CalHFA First-Time Homebuyers Program

Updates

CalHFA A Dream For All Program

CalHFA through the State of California is assisting first-time homebuyers by giving them 20% of a home's purchase price to use as a down payment with 0% interest. 20% of the home's purchase price is given as a loan. When you sell the house, you pay back the 20% plus 20% of the home's appreciation.

CalHFA A Dream For All Program are offering a limited amount of loans and the spaces fill up quickly.

Borrower Requirements:

First time home buyers (or you haven't owned a home in the last 3 years)
Occupy the property as a primary residence
680 minimum FICO
Meet Income Limits

- LA County: $180,000
- OC County: $235,000
- SD County: $211,000

Property Requirements:

Be a Single-Family, one unit residence including condominiums/PUDs. (Guest houses, granny units and in-law quarters may be eligible)
Condominiums must meet the guidelines of the first mortgage.
Must be livable/be able to occupy in first 60 days post closing

Things to Know:

20% loan (at 0% interest loan)
6.125% Fixed Rate
You're allowed to refinance one time
When you sell the house, you pay back the 20% plus 20% of the home's appreciation (Capped 2.5 x value if it does appreciate)
If the home does not appreciate you only pay the 20% loan, the government makes no money
If you take a loss on the property, you still pay back the 20% loan

We are here to answer any questions you might have. Call or text if you think this could be the right fit for you.

805.402.9788