Financing in California>Question Details

Nanyme, Other/Just Looking in California

There are four major sources of government-backed loans. Which is better?

Asked by Nanyme, California Fri Oct 19, 2007

The four major are: the federal housing administration (FHA), U.S. Department of veterans affairs (DVA), California Department of veteran Affairs (Cal-Vet), and the California Housing Finance Agency (CalHFA).

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Not all home buyers will qualify for all of these loans. I n will depend on individual circumstances.
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0 votes Thank Flag Link Fri Oct 19, 2007
Cindi Hagley…, Real Estate Pro in San Ramon, CA
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The most commonly used ones are the CalHFA, FHA, VA and the Cal-Vet in that order.
0 votes Thank Flag Link Fri Oct 19, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
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FHA loans are available nationwide to US residents, veterans and non-veterans alike. DVA and Cal-Vet loans are generally available only to military veterans and their widows. CalHFA raises its loan funds by issuing state backed bonds. These loans often have attractive favorable rates and are usually restricted to median income households or certain target zip codes.

Any one of these could be better for an particular borrower's personal set of circumstances.
0 votes Thank Flag Link Fri Oct 19, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
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