Fill out the following 3-step pre-screening form, in order to find out if you are eligible for any of the 400+ down payment assistance programs available in California. If you are still not sure how to begin, feel free to watch this video. 

If you need further assistance with the Down Payment Resource, please contact me at 888-595-0002.

To search for Down Payment Assistance Programs, just click on the link for the Down Payment Resource Directory
https://www.car.org/marketing/clients/downpaymentresource

The following is an example of a Down Payment Program known as CalPLUS Access Conventional, offered by the California Housing Finance Agency (CalHFA)

California Housing Finance Agency (CalHFA) – CalPLUS Access Conventional

Maximum Amount
MyHome is 3.0% of the sales price or appraised value, whichever is less
MyAccess is 2.5% of the CalPLUS Access Conventional first mortgage total loan amount

This is a 1st mortgage, 2nd (MyHome), and 3rd (MyAccess) Combination.

Benefits

• Competitive rates.
• This is a 1st mortgage, 2nd (MyHome), and 3rd (MyAccess) Combination. MyHome is 3.0% of the sales price or appraised value, whichever is less. MyAccess is 2.5% of the CalPLUS Access Conventional first mortgage total loan amount.
• Both the MyHome and MyAccess may be used for closing cost and/or down payment.
• Deferred payment, zero interest rate, long term subordinate mortgages.
• Guest houses, granny units and in-law quarters are eligible for financing under certain conditions.
• No borrower minimum contribution required.
• No purchase price limits, CalHFA follows the Fannie Mae loan limits.
• Fannie Mae Homestyle Energy is allowed.
• Borrowers who own or have owned rental properties may be a first-time homebuyer if they can document that they have not occupied any of the rental properties as their principal residence at any time within the past three years.
• Borrowers ≤ 80% AMI on Conventional loans may receive Charter MI, if > 80% AMI standard MI is required.
• 2-1; 1-1; 1-0 temporary buydowns are permitted per Fannie Mae and master servicer guidelines.
• Permanent buydowns are done on a case-by-case basis and are permitted per Fannie Mae and master servicer guidelines.

Eligible Borrowers

Minimum Credit Score
Minimum Credit Score: 660
The minimum credit score is 680 for borrowers with income greater than 80% Area Median Income (AMI) using the Fannie Mae Lookup Tool.
The minimum credit score is 660 for borrowers with income less than or equal 80% AMI using the Fannie Mae Lookup Tool.
Borrower(s) with no credit score are not permitted.
Non-traditional credit is not accepted.

All borrowers must meet the minimum representative credit score requirement. The middle score of the lowest-scoring borrower should be used to determine eligibility:
If a tri-merged is used, use the middle score.
If two scores, use the lower score.
If one score, that score must be used.

Qualifying Ratios

Total DTI: Up To 50%

Maximum Annual Household Income by Household Size
1-8: $270,000

Min Buyers Contribution
Based on 1st mortgage guidelines.

First Time Homebuyer Required?
Must be first-time homebuyer

Home Buyer Education
Required for FTHB

Home Buyer Obligations

• Must occupy property as primary residence.
• Must secure pre-approval for 1st mortgage with a participating lender.
• CalHFA requires that all first-time homebuyer(s) obtain a one-year home warranty protection policy – must cover Water Heater(s), Air Conditioning, Heating, and Oven/Stove/Range. Exception to Home Warranty if you are purchasing a new construction home or not using MyHome.

Limitations

⦁ MyHome must be recorded in 2nd lien position and MyAccess must be recorded in 3rd lien position.
⦁ Manual Underwriting is not permitted.
⦁ Multiple accessory units are not permitted.
⦁ Leaseholds are not permitted with manufactured housing.
⦁ Borrower(s) with no credit score are not permitted.
⦁ Freddie Mac Loan Prospector (LP®) and other customized automated underwriting systems are not permitted.
⦁ Non-traditional credit is not accepted.
⦁ First Mortgages in which the total loan amount exceeds $806,500 are considered a Conventional High Balance Loan and limited to 95% LTV and may be subject to an additional fee. See rate sheet for pricing.
⦁ High-cost loans not permitted.
⦁ All individuals that will be on the title must comply with all the eligibility requirements.
Commercial
Commercial Real Estate in California
California is home to some of the most dynamic commercial real estate markets in the U.S., including Los Angeles, San Francisco, San Diego, Sacramento, San Bernardino, and Riverside.
California offers strong investment opportunities in retail, office, industrial, and multifamily properties due to:
⦁ A massive, diverse population
⦁ A booming tech and logistics industry
⦁ Constant tourism and global business demand
⦁ Redevelopment incentives in economically distressed zones

Local Market Conditions

⦁ County-specific trends.
⦁ San Diego: Growth in biotech and defense sectors
⦁ Inland Empire (San Bernardino/Riverside): Logistics and warehousing boom
⦁ Bay Area: Mixed-use, green buildings, tech office spaces
⦁ Use local MLS, LoopNet, CoStar, and CBRE Market Reports.
Opportunity Zones
⦁ California has designated Opportunity Zones where investors get tax deferrals and capital gains exclusions.
⦁ Great for redevelopment and long-term investment in lower-income communities.
Invest in Green & Sustainable Properties
⦁ California has strict energy regulations (Title 24 Building Standards).
⦁ Green buildings attract better tenants and qualify for:
⦁ LEED certifications
⦁ PACE financing (Property Assessed Clean Energy)
⦁ CalGreen incentives
Diversify Your Property Types
⦁ Office, retail, industrial, and multifamily all perform differently.
⦁ Consider mixed-use development for urban areas and logistics/industrial for inland markets.
Statewide Leasing Laws
⦁ Review California Commercial Lease Agreement and stay current with:
⦁ Eviction protections
⦁ Rent increase limitations (in some cases)
⦁ ADA (Americans with Disabilities Act) compliance

California Commercial Real Estate Resources

Government & Public Tools

Local & Regional CRE Networks

Data Platforms

Commercial Refinancing Options

• Under Contact Tab, click on Easy Loan Application
• Contact JMJ Financial to learn about commercial refinance options.