* The term “present ownership interest” includes not only outright ownership but also any of the following interests if held either directly by you
or in trust for you: a joint tenancy, a tenancy in common, a tenancy by the entirety, a community property interest, the interest of a tenant-
shareholder in cooperative, a life estate, or a contract pursuant to which you have possession and the benefits and burdens of ownership although
legal title is not transferred until some later time and interest held in trust for you (whether or not created by you) that would be a present
ownership interest if held by you.
** The term “Acquisition Cost” means the cost of acquiring a residence from the seller as a completed unit. The term does not include usual and
reasonable settlement or financing costs. It does include the amount of any lien or assessment to which the home is subject.
CalHFA Borrower’s Affidavit
Page 1 of 4
, and I,
“Applicant(s)”, have applied for a home mortgage originated by
to the Mortgage Bond Program of the California Housing Finance Agency (the “CalHFA”), do hereby represent and
warrant as follows:
1. The residence to be financed with the proceeds of the mortgage loan is located within the County of:
2. The residence is reasonably suitable for occupancy by not more than one family.
3. (I/We) will occupy the residence as (my/our) principal place of residence within 60 days of the closing of the
residence mortgage, and thereafter will maintain the property as (my/our) principal residence for the duration of
this mortgage. (I/We) do not intend to, and have not entered into any arrangement to, rent, sell, assign or
transfer the residence.
4. (I/We) will not use more than 15% of the total area of the residence or otherwise use the residence primarily in a
trade or business which qualifies (me/us) to a deduction for expenses for business use of residence under
Section 280A of the Internal Re