California Housing Finance Agency (CalHFA) Programs:
Updated September 1, 2026CalHFA offers 30‑year fixed first mortgages (FHA, VA, USDA, conventional) with stacking down payment and closing cost assistance. Income, sales price, and household size limits are county and program specific; check CalHFA for the latest rules and county tables: CalHFA Homeownership and CalHFA Income & Sales Price Limits.
CalHFA Conventional Loan Program:
Eligibility: Typically first‑time buyers (no ownership in past 3 years) unless otherwise allowed by program. Homebuyer education is mandatory for most CalHFA loans.
Offerings: 30‑year fixed conventional first mortgages (HFA specific products) with competitive pricing for eligible borrowers.
Common requirements (see lender matrix for full detail):
- Income must be at or below county specific CalHFA limits (varies by household size; see CalHFA limits). Examples are illustrative only—verify exact limits for your county and household size.
- Minimum credit score: commonly in the 660–680 range depending on program, income tier, and lender overlays. See the CalHFA lender matrix for program specific thresholds: CalHFA lender matrix.
- Debt to income (DTI) caps vary by credit score and program. CalHFA matrices show common caps around 45%–50%.
- Homebuyer education is required for most CalHFA first mortgage borrowers.
MyHome Assistance Program:
Benefits: Deferred payment junior loan to help with down payment and/or closing costs. CalHFA Government (FHA) pairings: up to the lesser of 3.5% of purchase price or appraised value. CalHFA Conventional pairings: up to the lesser of 3% of purchase price or appraised value. No monthly payments; repay on sale, refinance, or payoff. See CalHFA MyHome for details: CalHFA MyHome.
CalPLUS with ZIP (Zero Interest Program):
Description: CalPLUS first mortgages are offered with ZIP closing cost assistance in many CalPLUS structures. ZIP provides a zero interest silent second specifically for closing costs and is commonly offered as either 2% or 3% of the first mortgage loan amount. ZIP rules and required disclosures are detailed in CalHFA materials and matrices. See CalHFA CalPLUS and the program matrices for specifics: CalPLUS / ZIP and the CalHFA lender matrices.
Dream For All Shared Appreciation Loan:
Description: Shared appreciation junior loan for down payment or closing cost assistance paired with a CalHFA first mortgage. Assistance is up to 20% of the purchase price and not to exceed $150,000. At least one borrower must meet the program first generation homebuyer definition. Repayment includes the original loan plus a share of appreciation on sale or refinance. See CalHFA Dream For All: CalHFA Dream For All.
Status: The DFA voucher application portal closed for new applicants on March 16, 2026; CalHFA released voucher rounds in 2026 and buyers must check the DFA voucher portal for current voucher status and instructions.
Local Programs (examples and current official links):
City and county programs offer deferred, forgivable, or shared appreciation assistance. Availability and reservation/lottery timing change often—follow the local pages linked below.
Los Angeles
Low Income Purchase Assistance (LIPA): City of Los Angeles program offering up to $161,000 as a zero percent, deferred second with a shared appreciation provision for eligible first time buyers inside the city. Requirements include a middle FICO minimum commonly around 660, homebuyer education and a minimum buyer contribution; LAHD posts reservation and lottery dates on its program page. (LAHD LIPA, LAHD program booklet (PDF))
San Diego
SDHC First Time Homebuyer Programs (Middle Income example): SDHC commonly offers a $40,000 deferred down payment assistance loan plus a $10,000 closing cost grant for households roughly in the 80–150% AMI band, with published purchase caps by program. Funding sources and current program guidelines are posted on SDHC’s official site. (SDHC First Time Homebuyer Programs, SDHC program summary (PDF))
San Francisco
Downpayment Assistance Loan Program (DALP): MOHCD provides DALP loans that can be substantial in high cost purchases and include deferred second or shared appreciation structures. MOHCD publishes a DALP manual with program rules and example loan amounts (the manual contains examples using loans around $500,000). Application cycles and lottery timing vary year to year—check MOHCD for the current round. (SF MOHCD, DALP manual (PDF))
Additional Information:
- Teacher and employee assistance: CalHFA and many local programs offer educator and employee specific junior loans and priority pools. See CalHFA special programs and local city pages for program specific eligibility and amounts.
- USDA Loans: 0% down is available in eligible rural areas; program income and location limits apply — verify with USDA Rural Development and CalHFA lenders. (USDA Rural Development)
- VA Loans: 0% down for eligible veterans or active duty borrowers; confirm entitlement and lender overlays with an approved VA lender.
- FHA Loans: FHA down payment can be as low as 3.5% of the purchase price for borrowers with qualifying credit (see HUD for FHA rules and lender guidance). (HUD - Loans (FHA overview))
Programs and funding move quickly. For exact county limits, current fund status, and correct stacking order, review the official program pages linked above and work with a CalHFA approved lender.
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