Down Payment Assistance
Down payment help for California homebuyers
Saving for a down payment is the biggest hurdle for many buyers. California has state programs that can help, and some loans need little or nothing down. Here is how it works.
CalHFA
What is CalHFA?
The California Housing Finance Agency (CalHFA) is the state's housing lender. It offers first mortgages and down payment help for buyers who meet its income, price and education rules.
CalHFA
CalHFA MyHome Assistance
A second loan that helps with the down payment or closing costs. You make no payments on it until you sell, refinance or pay off the home. It can be up to 3.5% of the price on an FHA loan or up to 3% on a conventional loan (the lower of the price or appraised value).
CalHFA
CalHFA Dream For All
A shared appreciation loan for first-generation homebuyers. When you sell or refinance, you repay the amount plus a share of the home's increase in value. Funding opens in rounds, so timing matters.
Other Options
Other ways to buy with less down
- VA loans: no down payment for eligible veterans and service members.
- USDA loans: no down payment in eligible rural areas, with household income limits. Parts of the Imperial Valley and Kern County may qualify.
- FHA loans: 3.5% down with flexible credit rules.
Homebuyer Class
Do I need a homebuyer class?
Many programs require one. CalHFA accepts the eHome online course or a class from a HUD-approved housing counseling agency.
Qualifying
How do I find out if I qualify?
Rules depend on your income, the county, the home price and the loan type. Book a call to go over your loan options, and we can point you to CalHFA resources for the state programs.
Local Loan Officers
Find help near you
Book a call with a loan officer who serves your area.
FAQ
Common questions
Do I have to be a first-time buyer?
Many programs are for first-time buyers, and Dream For All is for first-generation buyers. Rules differ by program, and we can point you to CalHFA resources for the details.
Do I have to pay the assistance back?
MyHome is repaid when you sell, refinance or pay off the home. Dream For All is repaid with a share of the home's increase in value.
Can I use down payment help on a new construction home?
Often yes, if the home and the price meet the program rules. Ask before you sign with the builder.