CalHFA Loan Programs

The California Housing Finance Agency (CalHFA) offers a variety of loan programs to assist low- to moderate-income first-time homebuyers:

• CalHFA FHA Loan Program: A 30-year fixed-rate loan insured by the FHA, designed for low- to moderate-income individuals and families.
  Learn more about the CalHFA FHA Loan Program.
• MyHome Assistance Program: A deferred-payment junior loan that provides up to 3.5% of the purchase price or appraised value (whichever is less) to help with down payment and/or closing costs. Learn more about the MyHome Assistance Program.

Visit the CalHFA website for detailed information about these and other programs.

FHA Home Loans

The Federal Housing Administration (FHA) offers loans designed to make homeownership more accessible for low- to moderate-income residents. Key features include:

• Low Down Payments: Down payments as low as 3.5% of the home’s purchase price.
• Flexible Credit Requirements: More lenient credit score criteria compared to conventional loans.
• Support for First-Time Buyers: Special provisions for first-time homebuyers.

Visit the HUD website to learn more about FHA loan options.

Explore Additional Options

In addition to the programs above, you can visit your local banking institution or mortgage lender to explore home loan opportunities. Many banks and credit unions offer tailored loan products for first-time homebuyers or individuals with low to moderate incomes. Be sure to ask about programs that may fit your financial needs and goals.

Some financial institutions offer loans designed for first-time or low-income homebuyers. For example, programs may require a low or no minimum down payment, downpayment assistance grants, flexible credit requirements and other features to help individuals achieve homeownership.

Important Note

We encourage residents to reach out directly to their financial institutions to verify program availability, eligibility requirements, and terms. These programs vary by lender and may not be available at all locations. Always compare options and seek professional advice to find the best solution for your needs.