Skip the searching and find the top financial products of 2024, all in one spot. From insurance companies to investment accounts, we’ve got you covered.
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
Buying a home for the first time might present serious sticker shock, especially in high-cost California. Not only is the state’s median home price almost double the national median, but prices are continuing to climb, up more than six percent year-over-year.
The California Housing Finance Agency, or CalHFA, oversees several homebuyer assistance programs that might help. In California, you’re considered a first-timer if you haven’t owned and occupied a home in the past three years, and you could qualify for a CalHFA program with an income as high as $300,000 in some corners of the state. Here’s an overview.
California homeownership statistics
Median home price, January 2025: $784,900
Median down payment, October 2024: $158,000
Most affordable counties: Modoc, Trinity, Lassen, Siskiyou, Tehama, Mariposa, Sierra
California first-time homebuyer programs
CalHFA Loan Program
CalHFA offers first-time homebuyers access to 30-year, fixed-rate conventional, FHA, VA and USDA loans, with the option to roll in down payment and closing cost assistance.
A minimum credit score of 660 and up to 680, depending on loan type
Meet CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attend the eHome homebuyer counseling course approved by CalHFA and present a certificate of completion
Pros
No sales price limits
Available for conventional and government-backed loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Loans with down payment assistance have slightly higher interest rates
CalPLUS Loan Program
CalHFA’s CalPLUS program offers 30-year, fixed-rate conventional and FHA loans combined with CalHFA Zero Interest Program (ZIP) for closing costs. The CalPLUS options come with a slightly higher interest rate than the CalHFA loans.
A minimum credit score of 660 and up to 680, depending on loan type
Meeting CalHFA’s income limits based on your specific area
Must occupy the property as a primary residence
Attending the eHome homebuyer counseling course approved by CalHFA and presenting a certificate of completion
Pros
No sales price limits
Available for conventional and FHA loans
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Higher interest rate than CalHFA loans
California down payment assistance and grants
MyHome Assistance Program
CalHFA’s MyHome Assistance program is a deferred second mortgage designed to help first-time buyers with down payment and closing costs. These loans provide up to 3 percent for a conventional loan (or 3.5 percent for an FHA loan) of the home’s purchase price or appraised value, whichever is lower. You can combine this assistance with CalHFA’s conventional and FHA loan programs.
Pros
Hundreds of preferred loan officers throughout the state
Can be used for a down payment or closing costs
Open to single-family residences, including approved condos, planned unit developments (PUDs), guest houses, granny units and in-law quarters
Cons
Not available for CalHFA’s VA and USDA loans
Golden State Finance Authority (GSFA) Down Payment Assistance Programs
Both first-time and repeat buyers throughout California can receive assistance through the GSFA’s Platinum and Golden Opportunities Programs. Both loans are 15-year second mortgages and can be used with conventional, FHA, VA or USDA loans.
The Platinum program provides up to 5.5 percent of your loan amount in down payment and closing cost assistance, while the Golden Opportunities program offers up to 5 percent.
Pros
Open to first-time and repeat buyers
Includes conventional and government-backed loans
No income limits for government-backed loans
Cons
Requires repayment on a monthly basis
California Dream For All Shared Appreciation Loan
CalHFA’s Dream For All is a newer assistance program that provides first-generation, first-time buyers in California with 20 percent of the home’s purchase price (for a maximum of $150,000) in a shared appreciation loan. You’ll use the 20 percent to cover the down payment at the time of purchase. When you sell the home or move or refinance your mortgage, you’ll repay that 20 percent, plus:
Up to 20 percent of the home’s appreciation if your income is above 80 percent of the area median income (AMI)
Up to 15 percent of the home’s appreciation if your income is below or equal to 80 percent of the AMI
As of writing, the program is currently closed to new applications, and it’s unclear when (or if) it will reopen.
Pros
Can be used for a down payment or closing costs
Cons
In addition to repaying the loan, you’ll need to pay an additional 15 to 20 percent of your home’s appreciation when you move, sell or refinance
Not open to new applications, as of February 2025
City-specific homebuyer assistance programs
City of Los Angeles Housing Department (LAHD) Low Income Purchase Assistance (LIPA)
LAHD provides deferred, zero-interest loans to help first-time, low-income buyers purchase homes in the city of Los Angeles. Borrowers can receive a loan equivalent to 5 percent of their property’s sale price (up to $161,000) to put toward a down payment and closing costs.
Must have a minimum credit score of 660
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour, in-person homebuyer education course
Must occupy the property as a primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Purchase price cannot exceed $679,250 (condos and townhomes) or $1,081,100 (single-family homes)
Pros
Can be used for a down payment or closing costs
Deferred payment
Cons
Includes a shared appreciation component, where the city receives a certain percentage of the property’s appreciation in value
Los Angeles County Development Authority (LACDA) Home Ownership Programs
LACDA has two second mortgage options — HOP80 and HOP120 — for first-time buyers in Los Angeles County. These are zero-interest deferred loans with a shared equity component.
Each program provides down payment and closing cost assistance of up to 20 percent of the home’s purchase price. For HOP80, the maximum amount of assistance is $100,000; with HOP120, it’s $85,000.
Income cannot exceed certain limits (varies by household size)
Must attend an eight-hour homebuyer education course
Must occupy the home as your primary residence
Must contribute at least 1 percent of your own funds toward the down payment
Borrower’s total contribution, including deposit and gift funds, cannot exceed $150,000 (HOP80) or $200,000 (HOP120)
Purchase price cannot exceed $700,000 (HOP80) or $850,000 (HOP120)
Home must be in an eligible area of Los Angeles County
Pros
Can be used for a down payment or closing costs
Deferred payment
More than 100 participating lenders
Cons
Includes an equity-sharing obligation
LACDA Mortgage Credit Certificate (MCC) Program
In addition to the HOP80 and HOP120 programs, LACDA also offers a mortgage credit certificate (MCC) for first-time buyers in parts of Los Angeles County. If you qualify, you could get a federal tax refund of up to 20 percent of the mortgage interest you’ve paid throughout the year.
Household income cannot exceed $135,120 (for one to two people) or $157,640 (for three or more people)
Must attend an eight-hour homebuyer education seminar
Home must be in an eligible area of Los Angeles County
Pros
More than 100 participating lenders
Reduces your federal tax liability
Cons
Only applies to single-family homes and condos
Orange County Mortgage Assistance Program (MAP)
With the Mortgage Assistance Program, first-time homebuyers in certain parts of Orange County may qualify for assistance equal to 20 percent of their home’s purchase price (up to $80,000). The funds are provided as a second mortgage with a 30-year term and a three percent fixed interest rate. Repayments are deferred until the end of the loan term.
Income cannot exceed certain limits (varies by household size)
Home must be in an eligible part of Orange County
Purchase price cannot exceed 85 percent of the median sales price in Orange County
Must complete homebuyer education
Pros
Open to single-family properties, condos and PUDs
Repayment deferred until you sell the home or loan term ends
Cons
Limited to certain areas within the county
County of San Diego Housing and Community Development Services (HCDS) Down Payment and Closing Cost Assistance
Looking to buy your first home in San Diego? This HCDS program offers low-interest, deferred payment loans of up to 22 percent of your property’s purchase price for a down payment and 4 percent (up to $10,000) for closing costs.
Purchase price can’t exceed $676,000
Must live in the property as your primary residence
Household income can’t exceed 80 percent of the San Diego County Area Median Income (AMI)
Must purchase a home in a qualifying part of San Diego County
Must contribute your own funds (at least 3 percent of the purchase price)
Must complete a homebuyer education course
Pros
Open to single-family homes, condos, townhomes or manufactured homes on permanent foundations
Repayment deferred until you move, sell, refinance or pay off the mortgage
Cons
Need to contribute your own money to the purchase
Inland Empire Down Payment Assistance Program (IEDPA)
Run by the Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS), this new program provides up to $40,000 in down payment assistance for first-time buyers in the Inland Empire. The money is given in the form of a 30-year, zero-interest deferred loan.
Home must be located in Riverside County or San Bernardino County
Household income cannot exceed 80 percent of the AMI (or 120 percent if you’re purchasing in low-to-moderate income census tract)
Must complete a HUD-approved homebuyer education course
Pros
Looser income requirements depending on property location
Repayments can be deferred for up to 30 years
Cons
Program funds may be limited
San Francisco Downpayment Assistance Loan Program (DALP)
Sponsored by the San Francisco Mayor’s Office of Housing and Community Development (MOHCD), this program is targeted at low- and middle-income first-time buyers. It operates as a lottery, and educators and first responders receive priority over the general public.
Borrowers can get up to $500,000 in down payment assistance to buy a market-rate property in the city of San Francisco. It works as a second mortgage, with no repayments required until you sell or transfer the property. At that time, you’ll also need to pay the city an “equitable share of appreciation.”
Home must be located in the city of San Francisco
Must occupy the home as your primary residence
Household income can’t exceed 200 percent of the AMI
DTI ratio can’t exceed 45 percent
Must contribute at least 1 percent of the home’s purchase price to the down payment or closing costs
Must complete homebuyer education
Pros
High income limits
Repayment deferred until you sell, move out or transfer the title
Can be used for a down payment and closing costs
Cons
You’ll owe the city a portion of the home’s appreciation when you sell
Housing Endowment and Regional Trust (HEART) of San Mateo County (SMC) First-Time Homebuyer Program
This program lets first-time buyers in San Mateo County purchase a house with just 5 percent down and no private mortgage insurance (PMI). It’s also open to existing homeowners who plan to sell their current property and buy one that is “substantially closer to transit in San Mateo County.” To qualify, you must get your loan from HEART’s partner lender, Meriwest Mortgage.
Must have a credit score of 680 or higher
Must buy a single-family home or condo in San Mateo County
Income can’t exceed $180,000 (one-person households) or $220,000 (households of two or more)
Home’s sale price can’t exceed $1,213,500
Must make a 5 percent down payment
Pros
Doesn’t require mortgage insurance
Open to first-time and some repeat buyers
Cons
Limited property types
Required to contribute at least 5 percent for a down payment
Other California first-time homebuyer loans
While you’re considering first-time buyer programs in California, also check out these popular nationally available loans, which can be obtained with many different types of mortgage lenders, both partners and non-partners of CalHFA:
FHA loans – If you have a less-than-stellar credit score or limited savings, consider an FHA loan. These loans are widely available, have a minimum credit score of 580 and require a down payment as little as 3.5 percent.
VA loans – If you’re a member of the military or veteran, you could qualify for a VA loan, which requires no down payment.
USDA loans – USDA loans don’t have a down payment requirement, but are only available to borrowers buying in a USDA-eligible rural area. You typically need a credit score of 640 or higher to qualify.
Good Neighbor Next Door program – This HUD program has a very low down payment requirement on homes in certain areas, coupled with the ability to save 50 percent on the purchase price.
Get started
As you prepare to become a first-time homebuyer, here are some next steps:
Do your homework. CalHFA itself doesn’t issue loans or make application decisions. However, it has vetted a list of approved lenders you can reach out to.
Work on your credit score. It’s the most important factor in determining your mortgage rate, so focus on boosting your number.
Compare lenders. Whether or not you get a mortgage through one of the CalHFA programs, it’s still important to shop around to find the most competitive rates. Doing so can save you tens of thousands in interest through the life of your loan.
Curious to learn more about homeownership in California? Here are some resources that might help:
