My Real Estate Blog

The CalHome Program under the administration of HUD authorizes funds to be used to enable low- and very low income households to become or remain homeowners. The program authorizes the use of grant funds for, among other things, home rehabilitation.

SB 224 provides that home rehabilitation includes the installation or retrofit of ignition resistant exterior components on existing manufactured homes, mobilehomes, and accessory structures required pursuant to specified administrative regulations.

Under the CalHome Program, the department provides the program funds to local public agencies or nonprofit corporations as either grants or loans to assist home ownership and requires them to meet prescribed criteria.

This law prohibits a local public agency and a nonprofit corporation from denying funding or applying different underwriting guidelines to a housing program or project solely on the basis that the home is a manufactured home or mobilehome or the home is located in a mobilehome park or a manufactured housing community.

The California Housing Finance Agency also administers the California Homebuyer's Downpayment Assistance Program for the purpose of assisting first-time low- and moderate-income home buyers utilizing existing mortgage financing. Under the program,
the amount of the downpayment assistance is due and payable at the end of the term or upon sale of or refinancing of the home.

This law authorizes the agency to permit the downpayment assistance loan to be subordinated to refinancing if it determines that certain criteria have been met.

Amends Sections 50650.3, 50650.4, and 51504 of the Health and Safety Code.