California Housing Finance Agency (CALHFA) 

An eligible first time homebuyer borrower can purchase a home with little or no money out of pocket with a Conventional or FHA loan. Combine the down payment and closing  cost assistance together for max assistance.

• Down Payment Assistance: 2nd lien position, deferred payments. 

  • Down payment assistance program available to anyone who has not had ownership in a property in the last 3 years

  • FHA - Maximum down payment assistance program not to exceed $15,000 or 3.5% of the purchase price or appraised value, whichever is less.

  • Conventional - Maximum down payment assistance program not to exceed $15,000 or 3% of the purchase price or appraised value, whichever is less.

  • VA - Maximum down payment assistance program not to exceed 3% of the purchase price or appraised value, whichever is less

  • Public School Employees & Fire Department Employees are not subject to the $15,000 loan amount cap.

• Closing Cost Assistance: Can be in 2nd or 3rd position, deferred payments.

  • Maximum closing cost assistance up to 2% or 3% of the purchase price

• Credit Score: Conventional Loan 680 Minimum, FHA Loan 640 Minimum

• Program paired with: Conventional, Conventional High Balance, FHA or VA