Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth and CalHFA is committed to improving equitable access to homeownership for all Californians. CalHFA is pleased to announce the Forgivable Equity Builder Loan, which gives first-time homebuyers a head start on this with immediate equity in their homes via a loan that is forgivable if the borrower continuously occupies the home as their primary residence for five (5) years after closing.
The Forgivable Equity Builder Loan is a forgivable down payment assistance program for first-time homebuyers to be used in conjunction with a CalHFA first mortgage for down payment and/or closing costs. This program will be available on Monday, April 4, 2022.
