Down Payment

California Homebuyer’s Downpayment Assistance Program California Housing Finance Agency (CalHFA)

The CALHFA provides low cost affordable first time buyer financing and offers up to 7.5% down payment and closing costs assistance combination in the form of silent junior loans. 

Program Eligibility

Am I eligible to apply for this program?
Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the CalHFA program.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

• Guest houses, granny units and in-law quarters may be eligible.
• Be a single-family, one-unit residence, including approved condominium/PUDs.
• Sales price of the home cannot exceed CalHFA's sales price limits established for the county in which the property is located.
• Manufactured housing allowed when combined with an FHA first mortgage only and home must be on a permanent foundation.
*In the case of conflicting guidelines, the lender must follow the more restrictive.

Additonal Property Guidelines

• Condominiums must meet the guidelines of the first mortgage
• There is a five acre maximum on the size of the property
• Leaseholds/Land Trusts and Co-ops are not permitted
• Meet the requirements of the mortgage insurer/guarantor

Interest Rate

What is the interest rate?
Homebuyer Education Requirement
Who has to take this Homebuyer Education course?
How do I take this education course?
How to apply
What documents should I have ready when contacting a loan officer?
What is the interest rate?

Interest rates will vary depending on your financial circumstances, lender fees, and other factors. Interest rates can also change daily. We recommend that you check with a CalHFA-approved loan officer to receive an accurate rate quote for this program.

CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program. View the sample Truth in Lending disclosure here.

Homebuyer Education Requirement

CalHFA firmly believes that homebuyer education is critical to the success and happiness of a homeowner, and requires homebuyer education for all its homebuyer programs. CalHFA will accept hard or online copies of homebuyer education counseling certificates.

Who has to take this Homebuyer Education course?

Only one occupying borrower on each loan transaction.

How do I take this education course?
How to apply

How do I apply for this loan program?

Since CalHFA is not a direct lender, our mortgage products are offered through private loan officers who have been approved & trained by our Agency. These loan officers can help you find out more about CalHFA’s programs and guide you through the home buying process.

What documents should I have ready when contacting a loan officer?

When initially contacting a loan officer, you may want to have this list of documents and information available to help answer questions that they will ask you:

  • Pay stubs
  • Bank statements
  • Employment history
  • Previous tax returns

For more information contact Scott Archer today by clicking on the "Contact Me" button at the bottom or top of the page for your FREE report.