Property Eligibility

Property Requirements

All types of properties, from single family homes to condominiums, throughout the entire state can be eligible for CalHFA financing. There is a limit on the sales price, however, and these limits vary depending on the county in which the home is being purchased.

There are other types of housing requirements and restrictions that also need to be considered such as manufactured housing, duplexes, acreage, etc. Each of these criteria can be unique to each program, so visit the Loan Programs tab to determine what types of properties are eligible according to each individual program.

In general these are property eligibility requirements for all CalHFA programs:

• The home must be located in California.
• The home must be your primary residence.
• The sales price of the home must be less than the allowable sales price limits.
• There is a five (5) acre maximum on the size of the property.
• The home must be a single family residence (detached).
• The home can be a condominium or attached unit in a planned unit development (PUD). (Check with your lender for eligible condominiums.)

Be sure to check the property eligibility section of each individual loan program for program-specific requirements such as manufactured housing and leaseholds/land trusts.

 

CalHFA FHA (Targeted Areas) Loan Program

Areas that are "targeted" by the Federal Government were identified in the 2000 Census as areas in California where 70 percent of the families who live there earn an income that is 80 percent or less than the statewide median income. Thirty-three (33) of California's 58 counties have targeted areas - with Los Angeles having almost half.

(While cities, counties and other governmental agencies may also have specific areas in their jurisdiction "targeted" for other program purposes, only those census tracts identified by the Federal Government as "targeted" are used for CalHFA's purposes, as it relates to a waiver of the first-time homebuyer requirement, sales price limits and certain income limits.)

How do I locate Targeted Areas in California?

• Use this list of qualified census tracts by county to assist you in finding and viewing maps of the targeted areas within each county. Open the list, and then click on the different tract codes to view a map of each targeted area.
• If you have a street address, you can find the census tract number in which the property is located to compare with the list above by visiting the FFIEC web site