First-Time Home Buyer Programs in California

California Housing Finance Agency (CalHFA) Programs:

CalHFA Conventional Loan Program:

Eligibility: First-time homebuyers (no ownership in past 3 years) in California.
Offerings: 30‑year fixed-rate conventional mortgage (Fannie/Freddie HFA), no purchase price cap.
Requirements:

• Income must not exceed county-specific CalHFA limits (updated June 9, 2025), e.g., ~$176,600 in Los Angeles County.
• Minimum credit score 660 (680 for manufactured homes).
• Debt-to-income ratio capped at 45%.
• Mandatory homebuyer education.

MyHome Assistance Program:

Benefits: Deferred second loan up to 3.5% of purchase price/appraised value for down payment or closing costs; combinable with CalHFA first mortgage.
Eligibility: First-time homebuyers using CalHFA first mortgage; income limits apply.

CalPLUS with ZIP (Zero Interest Program):

Description: Combines a CalPLUS first mortgage with two subordinate loans: MyHome and ZIP (mandatory). ZIP provides up to 4% of first mortgage as forgivable, zero-interest deferred loan.
Requirements: First-time status, compliance with CalHFA income limits (county-based), and inclusion of MyHome with ZIP .

Local Programs:

Los Angeles

Low Income Purchase Assistance (LIPA) Program: Offers up to $161,000 as a zero-interest deferred second for buyers ≤80% AMI. ~17 reservation slots per round in 2025. Requires 1% buyer down payment, FICO ≥660, and 8-hr education .

San Diego

SDHC First-Time Homebuyer Program: Deferred loan up to 4% of purchase price (max $25,000) for buyers ≤120% AMI. Income limits apply.

San Francisco

Downpayment Assistance Loan Program (DALP): Offers up to $500,000 silent second loan for buyers ≤200% AMI (priority: educators, veterans). Application period for 2025 is now closed.

Additional Information:

• CalHFA School Teacher & Employee Assistance Program: Deferred loan up to 4% for educators; income limits apply.
• USDA & VA Loans: Available for rural and veteran buyers with no down payment.
• FHA Loans: Require 3.5% down (580+ credit) or 10% (below 580).