California Housing Down Payment Assistance (CHDAP)

California Housing Down Payment Assistance Programs, as known as CHDAP, offers first time home buyers in California down payment and closing cost assistance with little to no money down. This program is available by using a CHDAP silent second loan.

California Housing Down Payment Assistance silent second is a program that is available to low to moderate incomes individuals. The CHDAP, defers payments until the real estate is refinanced or sold, but at no time is the loan ever completely forgiven.

Basic qualifications of the CHDAP home loan program

  • Household incomes can’t exceed moderate income limits for area
  • As with all FHA Loans, FHA Loan Limits can’t be exceed for your area
  • This program is only available for California properties
  • Applicant must not have owned a home within the last three years
  • All FHA Loan Requirements apply

One of the major benefits of a (CHDAP) programs vs other down payment assistance programs is that seller participation is not necessary.

With the 3% down payment assistance for the CHDPA and the possible 6% of seller assistance, it is very probable to purchase a new home with no money down and no closing cost.

If you have any other question about this or any other, please take two minutes and fill out of the application and one of our FHA experts will contact you.