HOME BUYING ASSITANCE

🏡 California offers a range of home-buying assistance programs—especially for first-time buyers—to help make homeownership more accessible in a high-cost market. Here’s a breakdown of how it works:

🏦 Main Statewide Programs

1. CalHFA Loan Programs

Offered by the California Housing Finance Agency (CalHFA), these are fixed-rate, 30-year loans tailored for first-time buyers:

CalHFA FHA Loan: Backed by the Federal Housing Administration.
CalPLUS FHA Loan: Slightly higher interest rate but paired with closing cost assistance (ZIP).
CalHFA VA Loan: For veterans and active-duty service members.
CalHFA USDA Loan: For rural areas, includes down payment help.
CalHFA Conventional Loan: Requires private mortgage insurance if the down payment is under 20%.
CalPLUS Conventional Loan: Comes with down payment and closing cost assistance.

💰 Down Payment & Closing Cost Help

2. MyHome Assistance Program

Offers a deferred-payment junior loan up to 3%–3.5% of the purchase price or appraised value.
Can be used for down payment and/or closing costs.
No monthly payments; repayment is deferred until you sell, refinance, or pay off the mortgage.

3. ZIP (Zero Interest Program)

Provides interest-free funds for closing costs.
Must be paired with a CalPLUS loan.

📚 Requirements & Eligibility

To qualify for most programs:

Be a first-time homebuyer (not owned a home in the past 3 years).
Occupy the home as your primary residence.
Meet income limits and credit score requirements (typically 620+).
Complete an approved homebuyer education course (usually 8 hours online for $99)

PROGRAMS MAY CHANGE OR MAY BE TERMINATED WITHOUT NOTICE.

HOME CONTACT

You can also call me, or text me: 424-347-0229