CalPLUS with Zip Down Payment
CalPLUS with Zip Down Payment Assistance
Purchase a Home with Little or No Cash*
We are now offering the CalPLUS home loan program and Zip down payment assistance program, for eligible homebuyers to purchase a home with no cash out-of-pocket down payment required*.
The Zip is a second loan with a zero percent interest rate! There are no payments due for the life of the first loan or until the property is sold or transferred, or if you refinance.
- CalPLUS Conventional Loan Program Option:
- Your new first loan amount is based on conventional loan guidelines for the sales price or appraised value, whichever is lower*
- Second loan (ZIP LOAN) with a zero percent interest rate
- CalPLUS FHA Loan Program Option:
- First loan amount up to the maximum FHA guidelines or the lower of the sales price or appraised value*
- Zip second loan with a zero percent interest rate
- No first-time homebuyer requirements
- Maximum loan amounts are based on CalHFA’s sales price limits established for each county*
- Maximum buyers income limits based on CalHFA’s published family income guidelines
- Homebuyer Education course is required for at least one occupying borrower
We arrange but do not make some loans.
*Restrictions apply. Contact Doug Bullwinkel for details. Program guideline information may change without notice. Please Contact Doug Bullwinkel by email: dbullwinkel@EnvoyMortgage.com or call (800) 636-8910 for the latest program guidelines.