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Is CalHFA forgiven?

Any Forgivable Loans paid off prior to the five-year term will be forgiven on an annual pro- rated basis. CalHFA loan servicing will issue a 1099 to borrowers on an annual basis when the loan is partially forgiven. Borrowers should seek the advice of their tax advisor.

How long does it take to process a CalHFA loan?

A CalHFA first mortgage generally has a turnaround time at CalHFA of 1-2 business days for compliance review. CalHFA loans have straightforward paperwork, quick processing and dedicated customer service. Many of CalHFA's preferred loan officers have closed CalHFA loans within 30 days.