Home Buying in Long Beach>Question Details

marcoslbc, Real Estate Pro in Long Beach, CA

What do this each of this do. fha, chdap, ectp, calffa,calplus, calffamcc.thx

Asked by marcoslbc, Long Beach, CA Wed Jan 8, 2014

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These are down payment assistance programs, as mentioned by my colleagues in previous comments. It sounds like you are doing your homework in efforts to purchase a home. Will this be your first purchase? I've helped clients utilize these programs. I'd be glad to help you and walk you through the process.

Please message or call me when you are available.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic# 01456982
0 votes Thank Flag Link Fri Jan 10, 2014
FHA is mortgage insurance that is provided by HUD the government agency.
With an FHA loan, the mortgage insurance is partially paid up front (added to your loan amount) and partially paid each month with your mortgage payment.
FHA mortgage insurance is not removable. The only way to remove FHA mortgage insurance is to refinance the loan.

CHDAP, CALFF,etc are down payment assitance and first time home buyer programs. Some are offered by cities, counties, etc.

Each county has different programs. Your best bet is to look at the Housing and Urban Development websites for your city and county for the programs they offer.
0 votes Thank Flag Link Thu Jan 9, 2014
You may find a lot of your questions answers on these blogs or with a few dozen questions.

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/wh…

http://www.trulia.com/blog/under640ficoscoreloans/2012/12/ar…

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/ho…

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm Monday thru Saturday, Sundays by appt.
http://youtu.be/MrygA2_8fAY
If my response was helpful, consider clicking thumbs up or Best Answer!
0 votes Thank Flag Link Wed Jan 8, 2014
Hello MarcosLBC, each represents the type of loan a buyer may have access to and many which you mention are DAP's (Down Payment Assistance Programs). I am providing you a link to a web page I have which will add value to your question: http://goo.gl/G1Q3PH

Scroll down about midway through the page and some of them I have placed links too.

FYI...I have about three lenders who specialize in these programs so if you are in need of a reference to a good lender just drop me a line or email.

Always here to add value and I am always ready to work for you!

Best regards...
0 votes Thank Flag Link Wed Jan 8, 2014
I would be more than happy to answer your specific questions about home financing and recommend what would be best given your situations.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Wed Jan 8, 2014
Call or email me and I will refer you to a local lender that will answer all of your loan questions.
0 votes Thank Flag Link Wed Jan 8, 2014
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