CA COVID-19 Mortgage Relief Program / CalHFA ADU Grant Program and Forgivable Equity Builder Loan
CA COVID-19 Mortgage Relief Program / CalHFA ADU Grant Program and Forgivable Equity Builder Loan
The CA COVID-19 Mortgage Relief Program:
The CA COVID-19 Mortgage Relief Program uses federal Homeowner Assistance Funds to help homeowners get caught up on their housing payments. The program is absolutely free and the funds do not need to be repaid.
The California Mortgage Relief Program Overview Click Here
The California Mortgage Relief Program FAQs Click Here
The California Mortgage Relief Program Key Terms Click Here
The ADU Grant provides up to $40,000 to reimburse pre-development and non-reoccurring closing costs associated with the construction of the ADU. Predevelopment costs include site prep, architectural designs, permits, soil tests, impact fees, property survey, and energy reports.
The California Housing Finance Agency ADU Grant Click Here
The CalHFA Forgivable Equity Builder Loan:
Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth and CalHFA is committed to improving equitable access to homeownership for all Californians. The forgivable Equity builder Loan gives first-time homebuyers a head start on their homes via a loan of up to 10% of the purchase price of the home. The loan is forgivable if the borrower continuously occupies the home as their primary residence for five years. The Forgivable Equity builder Loan is a forgivable subordinate loan program that may on y be used with a CalHFA first mortgage.
The California Housing Finance Agency Forgivable Equity Builder Loan Click Here
