There's some interesting news about an expected 35 Billion lifeline about to be extended to the various state run Housing Finance Agencies, including CalHFA. These agencies offer below-market financing for housing to first-time buyer families and individuals, with some restrictions on income and property value.
I have a substantial amount of experience with the CalHFA program, and when this program is healthy, it is effective.
Late in 2008, CalHFA suspended it's lending programs due to a lack of funds. This 35 Billion infusion - which is ~2 times as much as the expected total expenditure for the 8k first time buyer tax credit - will likely help open that program back to a level where it can be effective. It's worth keeping an eye on.
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About Me
- john
- As a Certified Mortgage Planning Specialist (CMPS) with extensive experience in the mortgage industry, I specialize in helping my clients find, structure and manage mortgage debt as one piece of a larger financial strategy. I provide my clients with detailed home loan and debt structuring guidance that compliments their long term financial objectives, including college savings, retirement planning and other investment goals. With an understanding of financial planning concepts that relate to taxation, investment strategy, and estate planning, I work to create a personal strategic mortgage solution for my clients’ diverse financial needs. I collaborate with advisors in other financial fields, and introduce other specialists for guidance as needed. The ability to assess and advise on all aspects of a client’s financial situation can minimize financing costs and tax exposure while building net worth – a benefit often missed when focusing on home loans exclusively.