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Scott Harrison
Professional Real Estate Services
Cell 510-388-4536
Credit Reporting Agencies Include   Experian   Equifax    TransUnion

Question: How does FHA work? 

Answer: The U.S. Department of Housing and Urban Development  which requires approximately 3.5% down payment.  FHA loan limits vary depending on the county where the property is located. FHA loans administered by HUD are originated by private lenders. For more information, contact lenders who offer FHA loans or a regional HUD office. 
Bay Area First Time Home Buyer Programs & LoansReview California first time buyer programs, the Hayward first time program, Oakland ,San Leandro, Alameda, Fremont programs, the down payment assistance programs the CALHFA & MCC programs, FHA & HUD & VA & Cal Vet loan programs.  How to deal with credit reporting agencies, a list of local closing costs and transfer taxes are explained for Contra Costa County and Alameda County California. 

State Wide Program; Mortgage Credit Certificate MCC

San Leandro  First Time Homebuyer Assistance Program

 Mortgage Loan Programs with Down Payment Assistance

Rural Housing loan program
City of Fremont First time Buyer Program

City of Hayward program info is below

Oakland  First-Time Homebuyer Mortgage Assistance Program

San Jose First Time Buyer Program  (Uses a state wide program) California Housing Finance Agency CALHFA  


The City of Hayward contracts with Bay Area Home Buyer Agency (BAHBA) to administer first-time homebuyer seminars, homebuyer education and counseling.

Contact BAHBA at http://www.myhomegateway.com/; by email info@myhomegateway.com; 

What is the Hayward First-time Homebuyer Assistance Program?
and what is the City of Hayward Down Payment Assistance Program?
Please reffer to the link above for most currant info  BAHBA

Former the Hayward program offer these terms; 
The City of Hayward is committed to increasing the number of residents who own their homes.  The city recognizes that there are many families who want to own a home and can qualify for a mortgage and afford the monthly payments, but are unable to save enough for a down payment.  The First-Time Homebuyer Program (FHP) helps eligible families purchase a home in the City of Hayward.

The First-Time Homebuyer Program is designed to work with a number of different mortgage programs.  The FHP provides down payment and closing cost assistance up to $30,000 for the moderate-income buyers 

Am I eligible for the Program?

·    To qualify, you must not have owned a home, condominium or townhouse within the last three (3) years.

     Have a minimum credit score of 620

·    You must not earn more than 120% of the area median income adjusted by household size as listed in the following table:


  SIZE         LIMITS
What kind of home can I purchase?

You may purchase any new or existing home, single-family detached, or townhouse (no manufactured housing units, duplexes or mobile homes).
The home must be located within the municipal boundaries of the City of Hayward (i.e., homes within the unincorporated areas do not qualify for assistance).

The City cannot provide assistance to purchase properties with health and safety deficiencies or structural problems.

Can my family really afford to own a home?

Buying a home is the largest purchase most families will ever make.  Plan on attending one of the City's free Homebuyer Workshops.  The Workshop takes you through the entire homebuying process step-by-step.  Topics include deciding whether home ownership is right for you, shopping for a home that meets your needs, obtaining a home mortgage, closing the sale, and even maintaining your new home.  You will know more about home buying and will be able to negotiate the purchase and financing of the home you want.  You will understand the terms of your mortgage and be confident that you can afford home ownership.

What are the terms of the FHP loan? The second loan is a 30-year loan fully amortized loan that starts on year six with a 3.5% interest rate. No principal and interest accrue during the first five years. The City of Hayward is an Equal Opportunity Lender

How do I get started?

Attend a Workshop contact Bay Area Homebuyer Agency/First Home, Inc. at: 
(888) 572 – 1222 x 110, or
JoAnne D’Agostino at (510) 583-4244

City loans are secured by a second deed of trust.

You must have a downpayment of at least 3% of the purchase price, plus funds for recurring closing costs.  If a CalHFA or FHA loan is used in conjunction with the City's assistance, buyers must pay at least 1% of the purchase price plus recurring closing costs from their own funds.

Loan payments are due to the City on the first of each month and must be made by an electronic transfer of funds from your checking/savings account to the City.  You authorize this transaction and maintain sufficient funds in your account for these payments.

Do I need to qualify for a mortgage?

Yes.  In order to receive assistance, you must qualify for a home mortgage.  Any of the participating lenders listed in this brochure can determine if you qualify for a first mortgage and for the City's First-Time Homebuyer Assistance Program.  You MUST use a lender listed in this brochure to participate in this program.

A suggested debt-to-income ratio should not exceed 45% of gross income for housing expenses and a combined (housing costs and debt)-to-income ratio should not exceed 45%.  (45% front-end debt ratio/45% back-end ratio.)

A $200 processing fee is charged for each loan.
The maximum purchase price of the residence may not exceed $400,000
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