CalHFA - HomeChoice Program

CalHFA - HomeChoice Program: "HomeChoice is a statewide program designed to assist low-and-moderate-income borrowers who are disabled, or have family members with disabilities living with them, in purchasing their first home. Borrowers can obtain a 30-year first home loan with an interest rate as low as 3% and a second home loan that does not exceed three percent of the sales price at 7% simple interest deferred until the first loan is paid off.

Guild Mortgage Company, acting as master servicer, will underwrite the loans to meet Fannie Mae and CalHFA standards. Fannie Mae will guarantee the loans and CalHFA will purchase securities backed by pools of HomeChoice Loans. This is a cooperative effort on the part of CalHFA and Guild Mortgage to assist disabled Californians purchase their first home by participating in Fannie Mae's HomeChoice Program.

Homebuyers interested in applying "