CHF HOME PURCHASE PROGRAM

CHF Access Loan Program
As little as a 1/2 Percent Down Payment

Explore the Possibilities

Homeownership may be just around the corner with the CHF ACCESS Loan Program.
The Program combines a 30-year fixed interest rate FHA Mortgage Loan with down payment and/or closing cost assistance in the form of a low and fixed interest rate Second Mortgage. Total financing up to 99.5% of the purchase price is possible. That means the down payment from the homebuyer’s own funds could be as little as 1/2 of a percent of the purchase price. The Program can be used to purchase either a new or existing home, as long as it will be the primary residence of the homebuyer. The Program also features a variety of flexible qualifying guidelines. For example, the Program is not restricted to first-time homebuyers. Families or individuals who may have owned a home in the past are still eligible to apply for the CHF ACCESS Loan Program. This Program is only available for a limited time.

Interest rates are still at all time low and will not stay this low forever!

Low fixed interest rate
Second loan available to assist with down payment and/or closing costs
Fico down to 580
Features to save you money
Flexible qualifying guideline

SAMPLE LOAN SCENARIO – BORROWER HAS LITTLE OR NO MONEY FOR DOWN PAYMENT

Purchase Price of $325,000

FHA 1^st: 96.5% Loan To Value $313,625.00

CHF Access 2^nd: 3% Size (for down payment) $9,750.00

Total Financing 1^st & 2^nd: 99.5% of Sales Price $323,375.00

Down Payment Required 0.5% (1/2 percent) $1,625.00

Apply online or contact Mr. Ellis at 949-367-9167 ext 203, email at aellis@yourmortgageshop.com
DRE 01329191. NMLS# 325773

*Example of 99.5% total financing utilizing the CHF ACCESS Loan Program is based on the combination of a 30-year fixed-rate FHA First mortgage and a 15-year fixed-rate CHF ACCESS Second Mortgage. The payment on a $313,625 30-year fixed-rate loan at 5.50% and 96.5% loan-to-value (LTV) is $1,780.73 with 1.00 point due at closing. The annual Percentage Rate (APR) is 6.19%. The payment on a $9,750 15-year fixed-rate CHF ACCESS Second Mortgage at 8.25% is $94.59 with an APR of 8.25%. Total monthly payment is $1,875.32. Some state and county maximum loan amount restrictions may apply. Actual rate may vary. Your Mortgage Shop is licensed by the Department of Real Estate, under the California Residential Mortgage Lending Act. CRHMFA Homebuyers Fund (CHF) is a government sponsored joint powers authority that offers loan programs to assist potential homebuyers in purchasing a home. This is not an offer for extension of credit or a commitment to lend and is subject to change without notice. Certain restrictions apply on all programs. See your CHF Approved Lender or Broker for complete program guidelines, loan applications, applicable fees and APRs.

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