One last check before submitting your CalHFA Loan(s)

  1. ____ I have included and completed the FHA or Conventional Submission Sheet along with the CalHFA Addendum Submission Sheet
  1. _____ I have a completed and signed CalHFA Borrower Affidavit. I realize the family size submitted on this form cannot be changed after submission. I am aware the family size determines the income limitation.
  1. _____ I have completed the Tax Affidavit form (if applicable – does not file tax returns at all).
  2. _____ All borrowers must be 1st Time Homebuyers (owning no house in the last 3 years).
  3. _____ My ratios are not exceeding 45%; 43% if this is a manual underwrite (FHA only).
  4. _____My FICO is a minimum of 640; 660 if this is a manual underwriter (FHA only).
  5. _____ I have included 3 years tax returns.
  6. _____ If using a cosigner, I can only use for an FHA 1st loan – not allowed for Conventional loans.
  1. _____I have used the Loan Scenario Calculator and made sure that my 1st is a minimum of 96.5% for FHA and 97% for Conventional. If the 1st LTV is less than this, I am using too much in grant funds and my Option needs to be revised. If I am using a high balance Conventional, my LTV can only go to 95%.
  1. _____My loan falls in line withthe maximum income limits for CalHFA.
  2. _____ My loan falls in line with the maximum sales price limits for CalHFA.
  1. _____ If using an MCC I have checked to see that my income, and sales price limits meet the MCC guidelines (
  1. _____ My property is a SFR, Condo or PUD – no units allowed OR manufactured homes allowed.
  2. _____My income documentation is all within 60 days (required when we submit to CalHFA).
  3. _____I have submitted a 4506T with a live signature for all borrowers.
  4. _____ Homebuyer Education will be required.
  1. _____I am aware, this product requires a Home Warranty to include water heater(s), air conditioning and heating, and if placed with an FHA, you must also include oven/stove/range.

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