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The California Housing Finance Agency offers low interest rate first mortgage programs and a variety of down payment assistance programs to eligible first-time homebuyers.
The California Housing Finance Agency
The California Housing Finance Agency (CalHFA) supports the needs of renters and first-time homebuyers by providing financing and programs that create safe, decent and affordable housing opportunities for individuals within specified income ranges in California.
Cal30 Conventional Loan Program
This conventional Cal30 first mortgage loan program is designed to enhance affordability and homeownership opportunities by offering a fixed interest rate that will not change during the entire loan term. It has a maximum Loan-to-Value (LTV) of 95% and a maximum total Combined Loan-to-Value (CLTV) of 102%. This program is intended for first-time homebuyers who meet specific income requirements and who are purchasing a new or existing home in California.
Read more about the Cal30 Conventional Loan Program
SMART Loan Program
This program offers a special reduced interest rate and up to 100% Loan-to-Value (LTV) financing for designated CalHFA-owned properties. If you are a first-time homebuyer and meet other eligibility criteria, you may qualify to purchase one of these homes using special financing from CalHFA.
Read more about the SMART Loan Program
CalHFA Community Stabilization Home Loan Program (CSHLP)
The CSHLP offers a reduced interest rate on a 30-Year Fixed Mortgage loan to first-time homebuyers purchasing select real estate owned (REO) vacant properties in specific California communities.
Read more about the CalHFA Community Stabilization Home Loan Program
Affordable Housing Partnership Program (AHPP)
CalHFA partners with over 300 localities (cities, counties, housing authorities, nonprofit entities, and redevelopment agencies) to offer the AHPP. A deferred payment subordinate loan from a locality is utilized by the first-time homebuyer to assist them with down payment and/or closing costs. This program is intended for low income first-time homebuyers who meet specified income limits and who are purchasing a new or existing home anywhere in California.
Read more about the Affordable Housing Partnership Program
California Homebuyer's Downpayment Assistance Program (CHDAP)
The Small Rental Properties Program (SRPP) helps local governments rehabilitate rental properties with 11 or fewer units to increase or preserve the stock of low-income apartments, particularly in small rural communities. Governments are encouraged to structure their programs to meet specific, local rental rehabilitation needs.
Read more about the California Homebuyer's Downpayment Assistance Program
HomeOpeners®, a Mortgage Protection Program
HomeOpeners helps borrowers stay in their home, make mortgage payments, and maintain their credit standing in the event of job loss. This program is offered as part of primary mortgage insurance at no additional cost to the borrower or lender.
Read more about HomeOpeners®, a Mortgage Protection Program
HUD - Section 8 Housing Choice Voucher Program
Enables qualified first-time homebuyers to receive monthly assistance for homeownership expenses in lieu of monthly rent aid.
Read more about HUD - Section 8 Housing Choice Voucher Program
Other Local California Home Loan Resources
California also has several first time home buyer and other home loan programs available through city, county, and other state agencies. Find a local California home buyer program that is right for you on the official California HUD website.
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- A Guide for First Time Homebuyers
- How Much Home Can You Afford?
- First Time Homebuyer Financial Assistance
- $8,000 First Time Home Buyers Tax Credit
- Rural Single Family Home Loans
- USDA Rural Housing Repair and Rehab Loans
- Mutual Self-Help Housing Loan Program (Section 502)
