First-Time Home Buyer Programs in California

California Housing Finance Agency (CalHFA) Programs:

CalHFA offers low-rate 30-year fixed mortgages (FHA, VA, USDA, conventional) with no sales price limits (since 2020) and down payment/closing cost assistance. Programs target first-time buyers; mandatory homebuyer education required. Verify current income limits (county-specific; no statewide cap) and rates at calhfa.ca.gov or limits page.

CalHFA Conventional Loan Program:

Eligibility: First-time homebuyers (no ownership in past 3 years).
Offerings: 30-year fixed-rate conventional mortgage (Fannie/Freddie HFA) at competitive rates.
Requirements:

• Income ≤ county-specific limits (e.g., ~$211,000 in Los Angeles, $325,000 in San Francisco/Marin/San Mateo; see current PDF for exacts by county/household size).
• Minimum credit score: 660 (680 for manufactured homes).
• Debt-to-income ratio ≤45%.
• Mandatory homebuyer education.

MyHome Assistance Program:

Benefits: Deferred-payment junior loan up to 3.5% (government/FHA loans) or 3% (conventional) of purchase price/appraised value for down payment/closing costs (no monthly payments; repay on sale/refinance).
Eligibility: First-time buyers using CalHFA first mortgage; meet income limits.

CalPLUS with ZIP (Zero Interest Program):

Description: CalPLUS first mortgage (slightly higher rate) combined with mandatory ZIP for closing costs (up to 3–4% of loan amount as zero-interest deferred loan) and often MyHome for down payment.
Requirements: First-time status; income limits apply; ZIP funds for closing/prepaids only.

Dream For All Shared Appreciation Loan:

Description: Up to 20% of purchase price (max $150,000) for down payment/closing costs; repayment includes shared appreciation upon sale (reduced share for ≤80% AMI). For first-generation buyers.
Status: 2026 round applications closed March 16 (random selection); check for future openings.

Local Programs (Examples):

City/county programs offer additional deferred/forgivable assistance—often income-based with education/lottery requirements. Funding limited; verify local sites.

Los Angeles

Low Income Purchase Assistance (LIPA) Program: Up to $161,000 as zero-interest deferred second (shared appreciation) for down payment/closing. ≤80% AMI; FICO ≥660; 8-hour education + 1% buyer contribution. Lottery-based (e.g., March 4, 2026 round open with ~28 slots—check housing.lacity.gov for status).

San Diego

SDHC First-Time Homebuyer Program (Middle-Income): Up to $50,000 ($40,000 deferred loan at 4% + $10,000 closing grant) for 80–150% AMI. Max purchase $1,250,000; funds available as of early 2026—see sdhc.org.

San Francisco

Downpayment Assistance Loan Program (DALP): Up to $500,000 silent second for ≤200% AMI (priority: educators/veterans). 2025 applications closed; no 2026 round announced—check sf.gov/dalp for updates.

Additional Information:

• CalHFA School Teacher & Employee Assistance Program: Deferred loan up to 4% for educators/state employees; income limits apply.
• USDA Loans: 0% down in eligible rural areas; income limits apply.
• VA Loans: 0% down for eligible veterans/active-duty military.
• FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).

California programs vary widely by county—always confirm with a CalHFA-approved lender. Seeking Agents® connects you with local agents who know these programs and compete to offer reduced commissions or extra support—free for buyers/sellers!