CRHMFA Homebuyers Fund (CHF)
CHF Programs provide down payment, payment, closing costs assistance, and grant and tax credit benefits to assist San Bernardino County residents with their home purchase.
The Mortgage Credit Certificate Program (MCC)
The program provides first-time homebuyers with a federal income tax credit based on 20% of the mortgage interest paid per year. The tax credit is a dollar-for-dollar reduction against the homebuyer’s federal income tax liability. The homebuyer may claim this MCC tax credit for as long as they occupy the home and pay interest on the mortgage.
The ACCESS and Platinum Programs
These programs were created to provide affordable housing financing assistance.
Both are 30 year fixed rate FHA 1st mortgages up to 96.5%
The ACCESS program has a 3% second where as the Platinum program has a 3% grant for a 99.5% combined loan to value
Homebuyer requirement: ½ % down and closing costs
Homebuyer requirement: possess qualifying credit scores and income/debt ratios
Both the ACCESS and Platinum programs were created to provide assistance to a large but underserved segment of the homebuyer population – those families and individuals with good jobs and good credit but without the financial savings and resources to afford the down payment and closing costs associated with a mortgage.
The CHF Residential Energy Retrofit Program
This program provides financial assistance to eligible homeowners in order to help them make energy efficiency improvements to their homes. Its objective is to deliver energy efficiency savings to homeowners while also promoting opportunities for jobs to local contractors and tradesmen. This program makes it possible to finance energy upgrades to your home with grants and a low interest rate loan from CHF (currently at 3% fixed interest rate on a 15 year fully amortized loan).