CHF loans in Redding CARedding CHF loans (CRHMFA California HomeBuyers Fund) are grants for California home buyers that act as gifts toward the home buyers’ down payments on the purchase of their homes in California. This is one of the loan options offered by Chris Lamm: Redding Mortgage Lender.

The CHF loan (grant) is primarily used in conjunction with an FHA loan and allows a home buyer to get into a property with less than one percent down. It is now being called the GSFA Platinum Assistance Program. According to the Golden State Finance Authority, which administers the grant, “70% of U.S. adults are unaware of down-payment assistance programs”. Chris Lamm is dedicated to helping Redding residents become aware of these programs.

CHF Grant Benefits

The CHF loans (CRHMFA) program has a number of benefits:

  • You do not have to be a first-time home buyer to take advantage of the CHF grant.
  • It does not have to be paid back.
  • It is not considered to be a silent second home mortgage loan.
  • It will not create a lien against the home.
  • The grant may be up to five percent of the loan amount.
  • It can be used with a number of mortgage loans and some mortgage refinances.

CHF Grant Requirements

  • There are income limitations for the Redding (Shasta County) CHF grant, and you must follow standard FHA guidelines for qualifying.
  • You must have a FICO score of 640 or above.
  • You must have a debt-to-income ratio of 45 percent or less.
  • The home must be your primary residence.

As long as the funds are available, this is a great home mortgage loan program for the right home buyer! Ask Chris Lamm: Redding Mortgage Lender to help you determine if you are eligible for the CHF loans (CRHMFA) program in Redding. With down payment options like this, you may be much closer to buying that house you’ve dreamed of.

 

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