Bootcamp For Buyers

First Time Homebuyer Programs in California

California offers an array of first-time homebuyer programs through the California Housing Finance Agency (CalHFA), making it easier to achieve homeownership with financial assistance and low-interest loans.

CalHFA MyHome Assistance Program

The MyHome Assistance Program provides down payment and closing cost assistance to eligible buyers.

  • Offers up to 3.5% of the home’s purchase price or appraised value.
  • Structured as a deferred-payment loan, repayable only when you sell, refinance, or pay off the home.
  • Available for FHA, VA, USDA, and conventional loans.

Forgivable Equity Builder Loan

The Forgivable Equity Builder Loan provides significant upfront assistance for qualified first-time homebuyers.

  • Offers up to 10% of the home’s purchase price as a forgivable loan.
  • Forgiven after five years of continuous homeownership.
  • Eligibility based on income limits and first-time buyer status.

CalPLUS Conventional Loan Program

The CalPLUS Conventional Loan includes built-in closing cost assistance through the ZIP Extra program.

  • Provides a 30-year fixed-rate mortgage with competitive interest rates.
  • ZIP Extra offers up to 3% of the loan amount to cover closing costs.
  • Requires completion of a homebuyer education course.

With these programs, California residents can access the support they need to make homeownership more affordable and attainable. These initiatives are tailored to help you secure your dream home with confidence.