This program is meant for first-time homebuyers anywhere in California. Low to moderate income first-time homebuyers can use this loan for down payment and/or closing cost assistance. The CalHFA Program allows qualified homebuyers to layer other down payment assistance loans or grants to maximize affordability.
Must be 18 years or older
U.S. Citizens
Green Card Holders (non U.S. Citizen)
H-1B Visa & EAD Card Holders (non U.S. Citizen)
| CRITERIA |
LOAN DETAILS |
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| CREDIT |
MINIMUM 620 FICO |
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| LOAN-TO-VALUE |
100% LTV WITH DPA | 97% LTV WITHOUT DPA |
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| DEBT-TO-INCOME |
MAXIMUM 45% DTI |
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| OCCUPANCY |
OWNER OCCUPANCY IS REQUIRED |
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| TERMS |
30 YEAR FIXED |
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| TRANSACTIONS |
PURCHASE ONLY |
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| APPRAISAL |
AN APPRAISAL IS REQUIRED |
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| ELIGIBLE PROPERTIES |
1-4 UNITS | ATTACHED/DETACHED SFRs & PUDs | LOG HOMES | MODULAR HOMES | MANUFACTURED HOMES | HUD APPROVED CONDOS |
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| HAVE A CH 7 BANKRUPTCY? |
MUST WAIT 2 YEARS AFTER BANKRUPTCY |
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| HAVE A FORECLOSURE? |
MUST WAIT 3 YEARS AFTER FORECLOSURE |
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| INCOME [IF SALARIED] |
2 YRS OF TAX RETURNS & W2s (3 YEARS IF FIRST TIME HOME BUYER) & YTD PAY STUB |
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| INCOME [IF SELF-EMPLOYED] |
2 YEARS OF BUSINESS AND PERSONAL TAX RETURNS IF NO TAX RETURNS, A PROFIT & LOSS WILL BE REQUIRED |
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| ASSETS |
PAST 60 DAYS OF ALL ASSET ACCOUNTS |
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| EMPLOYMENT VERIFICATION |
PROVE EMPLOYMENT FOR PAST 2 YEARS |
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| PROOF OF IDENTITY |
PROOF OF IDENTITY DRIVERS LICENSE AND SOCIAL SECURITY CARD |
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At Work Hard Mortgage, we proudly provide mortgage solutions to homebuyers and investors throughout Utah. Here are a few examples of the cities we served in Utah, but we aren’t limited to these locations:
• Lehi • Salt Lake City • Orem