Home Loan

Riverside and San Bernardino County CalHFA Home Loan Experts explains the Program Updates

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Join Me, Teresa Tims, President of TDR Mortgage in Upland CA, as I compare and contrast 3 Buyer / 1st Time Buyer Programs for Homebuyers in LA, San Bernardino, Riverside and Orange County.

Income limit changes recently enacted by the California Housing and Finance Authority (CalHFA) are now much much higher than EVER before. I feel as though this change is going to be so beneficial for the Middle America Wage Earners, that are largely ignored by down payment assistance, because “they make too much money to qualify!”.

The problem is it’s hard to save 20,000.00 or more for a home purchase when you are living paycheck to paycheck like the Majority of Americans today with the cost of living so high.

The annual income you are allowed to make and qualify for Calhfa Down Payment Assistance are the following;

Orange County 174,200.00
Los Angeles County 128,300.00
San Bernardino / Riverside County 128,700.00

DTI = 45
640 Fico
CalHfa 1st (rate set by CalHfa for FHA/Conv)
My Home 2nd – 3.5% Silent 2nd at 2.5% simple interest
Zip 3rd – Up to 4% Silent 3rd with 0% Interest
1st time buyer (not own a home for 3 years)

350k Sales Price Example
Total payment 2585 FHA
Funds to close 4515
Total pay back when you sell or refinance the home approx 26K

Teresa Tims, TDR home loan mortgage company is a trusted provider of home loan mortgages and home refinance Compare mortgage rates on a home refinance, VA loans, FHA loans, Jumbo loans, conventional loans, reverse loans, first time home loans, 1st time buyer loans, USDA loans, CalHFA loans and Chdap loans and Calhafa loans. We serve Southern California including Upland, Rancho Cucamonga, Fontana, Rialto, Chino, Chino Hills, Mira Loma, Eastvale, Ontario, La Verne, Claremont, Montclair, Pomona, Riverside, Corona, Glendora, San Dimas, Los Angeles, Orange County, Coachella Valley, the High Desert and San Bernardino.

I am a life-long resident of the Inland Empire and a licensed California Real Estate Broker, Licensed Mortgage Loan Originator, California Certified Residential Property Manager, Certified Short Sale and Foreclosure Specialist. Serving California since 1998 with many years experience in the Mortgage Loan & Real Estate industry, I am dedicated and prepared to assist you with your mortgage loan or refinance. Checks out my testimonials page raving fans are no accident I look forward to hearing from you soon.

Call 909-920-3500 or 909-821-3093 today!

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Company NMLS #390767 Individual NMLS MLO # 267236
Company BRE # 01889552 Broker License BRE # 01269949

Teresa Tims, TDR Mortgage and/or TDR Real Estate Group is an equal opportunity lender and any mention of rate or term is an estimate only and could vary based on many variables such as credit score, equity position, sales price etc. We are an equal housing lender.


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