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First Time Home Buyer Programs - California

First Time Home Buyer Programs - California

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.

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.

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.

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.

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.

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.

Source: The California Housing Finance Agency

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