California Down Payment Assistance Programs
FHA 2024 – 1st and 2nd time home buyer program in 2024
- Allows buyer to have a 3.5% down payment
- No restrictions on the areas borrowers can purchase (California)
- Maximum purchase limits depending on county
- No home-buyer class required
- Primary residence
- Higher income allowed
CalHFA 1st Loan (Conventional & FHA options available)
- Bond loan that can assist with an extra money down payment or closing costs.
- No restrictions on the areas borrowers can purchase (California only).
- Allows buyer to come in with a 1% down payment on the 1st loan.
CalHFA MYHOME
- 2nd position loan that can be used for down payment or closing costs.
- 3.5% of the purchase price.
- Silent Loan (no payments are made during the first 30 years).
- No restrictions on the areas borrowers can purchase (California only).
- Allows buyer to come in with a 1% down payment on the 1st loan.
CalHFA ZIP
- 2nd or 3rd position loan that can be used for down payment or closing costs.
- 3% to 4% of the purchase price.
- No restrictions on the areas borrowers can purchase (California only).
- Allows buyer to come in with a 1% down payment on the 1st loan.
CalHFA School Program (Replaces the Extra Credit Teachers Program)
- Only one applicant needs to currently be employed in California K-12 public school, Charter school, county/continuation school or its district.
- 4% of the purchase price or appraised value, whichever is less.
- Silent Loan (no payments are made during the first 30 years).
- No restrictions on the areas borrowers can purchase (California only).
CalHFA EEM Grant
- Program is to be used with an FHA Energy Efficient Mortgage.
- 4% of the loan amount that can be used above what the maximum allowed for a regular EEM Mortgage.
- Grant Program, funds do not have to be paid back.
- No restrictions on the areas borrowers can purchase (California only).
GSFA Platinum
- Loan program that combines with a 3% to 5% grant (does not have to be paid back).
- No restrictions on the areas borrowers can purchase (California Only).
- This can be structured both as FHA or Conventional.
GSFA Platinum MCC
- Dollar for dollar tax credit on the interest paid on the home.
- Helps buyers qualify for a higher purchase price.
