First-Time Homebuyers

CalHFA Loan

The CalHFA loan program is specifically tailored to assist first-time homebuyers in California in achieving their dream of homeownership. Supported by the California Housing Finance Agency, these loans offer competitive interest rates and a range of down payment assistance options to make purchasing a home more affordable.

CalHFA loans are designed to work with state-specific financial aid programs, providing additional support to those who meet income and sales price limits of the program, making it easier for Californians to find a place to call home.

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First-Time Homebuyers

California

First-Time Homebuyers


Competitive Interest Rates

Offers competitive interest rates on first mortgages to lower monthly payments for eligible buyers.


Down Payment and Closing Cost Assistance

CalHFA provides various assistance programs, such as the MyHome Assistance Program and the School Teacher and Employee Assistance Program, offering deferred-payment junior loans to cover down payment and closing costs.


  • Eligibility is subject to income limits that vary by county and family size, ensuring the program serves those most in need.

  • Purchased property must be within California, meet CalHFA's sales price limits, and be the borrower's primary residence.

  • Borrowers are required to complete a homebuyer education course, ensuring they are well-informed about the process and responsibilities of homeownership.

  • Borrowers must meet minimum credit score requirements, which can vary depending on the chosen loan program and lender guidelines.

  • The borrower must occupy the home as their primary residence within 60 days of closing.

  • CalHFA offers both conventional and government-insured loan options, including FHA, VA, and USDA loans, tailored to the borrower's needs.



GMCC Special Programs

CalHFA loans can often be combined with other CalHFA or non-CalHFA loan assistance programs, maximizing benefits for the borrower.

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