Cal Home Second Mortgage Loan Program
The State of California Housing and Community Development Department awarded grants to MHDC that provide silent second mortgage loans to very low-and low-income, first-time homebuyers in Los Angeles County. These loans assist in the purchase of homes in Los Angeles County. CalHome loans are funded up to $55,000. Download and complete an intake form for our First Time Homebuyer Program
• Have not had an ownership interest in residential real estate within the preceding three years.
• A minimum down payment equal to 3% of the sales price, which amount shall be contributed from the borrower’s personal resources or amount may be gifted.
• Maximum loan amount is up to $55,000
• Buyers must attend a homebuyer education class approved by MHDC.
• Fico score must be a 620 or better