California offers programs, run through the California Housing Finance Agency (CalHFA), that can help eligible first-time homebuyers with the down payment and closing costs. This page explains what the help may look like and who may qualify.
What the help may include
- Conventional loan down payment assistance: up to 3% of the purchase price
- FHA loan down payment assistance: up to 3.5% of the purchase price
- Closing cost assistance: up to 3%
Assistance often comes as a second loan or a grant, and each program has its own repayment rules. We explain how the assistance would work for you before you decide.
Who it is for
These programs are meant for first-time buyers who need extra help covering closing costs or boosting their down payment.
Requirements to expect
- A minimum credit score of 640 for the program we describe here (lenders and programs can set their own)
- No ownership of a primary residence within the last 3 years
- Income within the program limits for the county where you are buying
- A loan amount within the county limits
- Approval through automated underwriting and final underwriting
Program terms, funding and eligibility are set by CalHFA and the lender, and they change. Assistance is not guaranteed. Ask us for the current details before you rely on this page.
Next step
Tell us a bit about your situation and a specialist will check whether a CalHFA program could fit.