Now You Can Buy a Home with Zero Down Payment Through a New FHA Program Called “CalPlus with Zip”
This is a new first mortgage fixed loan insured by the Federal Housing Administration (FHA) for 30 years that offers you some benefits. The CalPlus with Zip is a zero-interest program where you could have your down payment of 3.5% covered in a second loan with no interest.
You would still have to pay your closing costs but this loan would save you some upfront money.
What are the Requirements?
- You must be a first-time buyer or a qualified veteran.
- Everyone on the loan must occupy the property
- You must complete a homebuyer education counseling program and obtain a certificate of completion.
- Single-family home or an approved condominium or planned unit development
- Mobile homes and manufactured homes are not permitted
- There are sales price maximums per county and location that we can talk about over the phone or by email.
What are the Income Guidelines for this FHA Program?
| County / # of People |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| Los Angeles |
$52,150 |
$59,600 |
$67,050 |
$74,500 |
$80,450 |
$86,400 |
$92,350 |
$98,350 |
| Orange |
$70,150 |
$80,200 |
$90,250 |
100,250 |
108,250 |
$116,300 |
$124,300 |
$132,350 |
| Riverside |
$52,300 |
$59,800 |
$67,250 |
$74,750 |
$80,700 |
$86,700 |
$92,650 |
$98,650 |
What are the Other Details about CalPlus with Zip for an FHA Loan?
There are some more details about the loan program.
Thank you for giving us permission to contact you If you have questions for me, Jay Valento, California Realtor®, then call me at 562-413-7655 or 562-413-7655.
