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CalHFA Disaster Rebuilding Assistance Program - DRAP

Housing & ShelterHomeownership Support
CalHFA's $100 million Disaster Rebuilding Assistance Program (DRAP) provides two lender-delivered tools for eligible California homeowners rebuilding homes damaged/destroyed by qualified disasters: construction-loan interest-rate buydowns and a const

About

  • CalHFA's $100 million Disaster Rebuilding Assistance Program (DRAP) provides two lender-delivered tools for eligible California homeowners rebuilding homes damaged/destroyed by qualified disasters: construction-loan interest-rate buydowns and a const

Eligibility — Residency

  • Homeowner must currently own an eligible property in California.

Eligibility — Housing

  • Homeowner must have occupied the property as the primary residence on the disaster date and intend to owner-occupy within 60 days after construction completion.
  • Property must be an eligible residential property type, including single-family, PUD, condo, 1-4 unit, ADU, or permanently affixed manufactured home on land owned by the borrower.

Eligibility — Other

  • Home must be damaged or destroyed by a qualified disaster in the program's current disaster-date window.
  • Loan must meet underwriting requirements, including maximum LTV 100%, maximum CLTV 110%, maximum DTI 55%, and minimum qualifying credit score of 580.

Eligibility — Income

  • Household income must meet DRAP county income limits.

Eligibility — Citizenship

  • Borrower must certify U.S. citizen, other national status, or Qualified Alien status under 8 U.S.C. 1641.

Benefits

  • Rate buydown: lender reimbursement up to $100,000 per property for borrowers at or below 100% AMI and up to $50,000 for other eligible borrowers, subject to percentage caps and available funds. (Applied to an eligible construction/renovation loan through a participating lender.)
  • construction loan rate buydown and construction loan loss guarantee

Documents needed

  • Borrower/lender process is published. Required underwriting and disaster-property records include loan underwriting/1003
  • credit report
  • title
  • proof of owner occupancy
  • disaster-damage verification
  • and the DRAP Borrower Affidavit; additional construction/loan documents vary by component.

How to apply

  • online
  • in-person through participating lenders
  • Processing time: Underwriting/reservation timing varies by lender and DRAP component.
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