Found you money to help you buy your home

Interview with Molly Ellis (Lender Training Specialist for CalHFA ) :

In this episode we discuss CalHFA FHA CalPlus/ZIP loan financing - for First Time Home Buyers.
      -  The CalPLUS FHA loan program is a fully amortized thirty 30-year fixed interest rate FHA-insured first mortgage. This loan is combined with the CalHFA Zero Interest Program (ZIP) for closing cost and/or prepaid items only. The FHA ZIP second loan is only available with CalPLUS and is a silent second loan for either 3.00% or 4.00% of the CalHFA FHA total first mortgage loan amount, including Up Front Mortgage Insurance Premium (UFMIP). The interest rate is zero percent (0.00%) and the payment(s) are deferred for the life of the first mortgage or until the property is transferred or the first mortgage loan is refinanced. 

* First Time Home Buyer (definition by CalHFA)
- first-time homebuyer is a borrower who has not had an ownership interest in any principal residence during the previous three years.