Health and Safety Code section 51349.3

For purposes of this chapter, the following definitions apply:

(a)

“Agency” means the California Housing Finance Agency.

(b)

“Construction loan loss guarantee” means a form of credit enhancement in which the agency agrees to reimburse a participating lender for a portion of the loss incurred on an eligible construction loan made to an eligible homeowner for the construction, reconstruction, or renovation of a home damaged or destroyed in a qualified disaster.

(c)

“Construction loan rate buydown” means a form of financial assistance in which the agency reimburses the participating lender for all or a portion of lender funded temporary or permanent interest rate reductions on an eligible construction loan made to an eligible homeowner for the construction, reconstruction, or renovation of a home damaged or destroyed in a qualified disaster.

(d)

“Qualified disaster” means a disaster that received a state of emergency proclamation by the Governor, or a major disaster declaration approved by the President of the United States.

Source: Section 51349.3, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=HSC§ionNum=51349.­3.­ (updated Jul. 13, 2026; accessed Aug. 3, 2026).

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Verified:
Aug. 3, 2026

§ 51349.3's source at ca​.gov