CalHFA introduces First-time Buyer 30-year fixed loan at 4%

The California Housing Finance Agency announced this morning that it's making new, less expensive 30-year fixed-rate loans for-first time homebuyers who meet low- and moderate income guidelines.

CalHFA Executive Director Steven Spears says the option helps qualified first-time buyers get around the some of today's extremely tight rules set by conventional lenders.

Spears said: 'Housing finance agencies around the country have historically played an important role in each state's housing market. With the disruption in the credit markets over the last two years, we have been limited in our ability to help finance home purchases. This new program offers California families another way to purchase their first home with reliable, fixed rate financing.'

Those interested can contact our office to learn more about this program at (619) 993-0687 or www.SDCoastProperties.com/contactus.