FHA Loans -
CHDAP Down Payment Assistance
...............................................................................CHDAP, California Housing Down Payment Assistance Programs, helps homebuyers
to buy a home with no money down. This is accomplished by using a FHA loan and a 3% CHDAP
silent second.
The CHDAP silent second has deferred payments until the property is
sold or refinanced but is never entirely forgiven.
There are some basic qualifications of the CHDAP loan program.
- Borrowers household income cannot exceed median income for area.
- Maximum sales prices are limited by FHA Loan limits.
- Program is for California properties only.
- Borrower cannot have owed a home in the last three years.
- Must be able to qualify for a FHA loan.
The benefits of using a CHDAP program vs. most other down payment
assistance programs is that it does not require the participation of the seller. This
allows you more homes to select from.
By combining the CHDAP loan and sellers assistance of up to 6%, a
homebuyer can use this program to purchase a home with no money down and no closing costs.
If you know any family, friends or co-workers
that may benefit from the use of this down payment assistance program, please  Recommend this page
The CHDAP down payment assistance program uses a FHA loan for
mortgage financing, you must qualify for a FHA loan to use the CHDAP program.
Learn more about about getting qualified for a CHDAP loan by
learning about FHA
Loan Qualifying |
