Updated Info on CalHFA loans for those interested

[Anonymous]

They just released a bulletin today. Some changes are as follows:

-All loan programs except 30yr fixed are temporarily suspended until further notice.
-Interest rate on 30yr fixed set at 6.75% across the board
-HiCAP and CHAP are also suspended until further notice.

Effective 09/23/08

source: http://www.calhfa.ca.gov/homeownership/bulletins/2008/2008-31.pdf

[ShanetheMortgageMan]

The HiCAP & CHAP are probably just being suspended because of lack of funds.  Lately I've never really saw the need in doing anything other than a 30-year fixed, surprised it took them this long to eliminate it.

[Anonymous]

Yeah after talking to my broker, it turns out that they are just sitting on some bonds they can't get rid of. Big surprise there I know, but once they can they will more than likely reinstate some if not all of the programs.