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What is The CAL HFA Extra Credit Teacher Program?

The Extra Credit Teacher Home Purchase Program (ECTP) is a deferred payment, simple interest rate subordinate loan.

The ECTP loans are available either at an amount:

› Not to exceed the greater of $7,500 or 3% of the lesser of the sales price or appraised value

› Not to exceed the greater of $15,000 or 3% of the lesser of the sales price or appraised value in CalHFA-defined high cost areas.

› The ECTP can only be used for down payment assistance and/or closing cost with an eli- gible CalHFA first mortgage loan.

› In addition, CalHFA will permit qualified homebuyers to use other FHA-approved or Fannie Mae Community Second subordinate loans or grants (with the exception of CHDAP) to help in the purchase of the home.

› The Extra Credit Teacher Program has limited funds available, so take advantage of this program while you still can.

› Limited funds available.

Requirements

  • Must be a first time home buyer
  • Must be a employed by a k-12 school or charter school (teacher, administration, staff)
  • Owner must occupy the property within 60 days of closing
  • Sales price may not exceed $600,000

Apply now for CAL HFA Extra Credit Teacher Program

Start our easy loan application process today and take one step closer to home ownership.

Ask us Anything

If you're interested in a conventional loan program and you want more information or if you would like to get started then leave a message or give us a call at 661.799.8515.

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