2240 Dept of Housing, Community Development
Program Descriptions


The objective of CalHFA's lending activity is to finance housing at affordable interest rates using lending models that facilitate: (1) mortgage loans to qualified low and moderate income homebuyers to finance the purchase of an affordable home, (2) permanent loans to create and preserve multifamily housing projects, and (3) special needs housing loans to facilitate the construction, rehabilitation and acquisition of housing needed to serve special needs populations. The CalHFA also administers the California Housing Loan Insurance Fund activity, the objective of which is to encourage the preservation of existing housing and improve new housing opportunities by offering mortgage insurance products to homebuyers who might not qualify for traditional lending programs. Mortgage Insurance Services is not writing new policies, but continues to administer existing policies and claims. For more information on CalHFA, including current assets and audited financial statements, use the following link: http://www.calhfa.ca.gov/about/financials/index.htm