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Sunshine, innovation, and endless possibilities await in California. Whether you dream of life by the beach, bustling cityscapes, or charming suburbs, California offers it all. With a thriving economy and diverse culture, it's a land of opportunity for homebuyers. Get pre-approved today and start your California dream.
For first-time home buyers in California, CalHFA offers excellent options for conventional or government-backed fixed-rate loans. There are closing costs and down payment assistance. Eligibility for CalHFA are -
There are two types of CalHFA offers, each with 30-year fixed-rate FHA and conventional loans: CalPLUS Conventional or FHA or CalHFA Conventional or FHA. The CalPLUS option has a higher rate of interest. You must read the requirements of conventional or FHA loans and understand lender requirements other than those mentioned in CalHFA guidelines.
This is a 30-year VA loan specially meant for the military. It has a fixed mortgage rate in California. You need to produce a certificate of eligibility to prove that you meet the requirements of a VA loan.
This is another loan option from CalHFA for homebuyers interested in buying homes in rural areas. It is a 30-year fixed-rate USDA loan. There are income limits and geographic limits. Buyers also need to meet other USDA loan guidelines.
This loan is for first-time home buyers in California, offering up to 10% of the property's purchase price. The Forgivable Equity Builder Loan can be forgiven if the homebuyer stays in the home for five years continuously as their primary residence. It can be combined with CalHFA's first mortgage.
CalHFA offers both MyHome Assistance and the ZIP program help with your closing costs and down payment assistance in California. These second mortgages offer up to 3% of a conventional loan or 3.5% of an FHA loan, whichever is lower. It can be combined with the CalHFA's loan initiatives.
This program is for you if you are a first-generation first-time home buyer in California. It is a newer assistance program in which the buyer gets up to 20% of the purchase price of the home as down payment assistance.
It is a shared appreciation loan. In the event you move out of the home or refinance the mortgage, you need to pay back the 20% that was offered as a down payment as well as an additional 20% of the appreciated value of the home, in case you are earning more than 80% of the AMI. If your earnings are 80% of the AMI or less than that, you need to pay an additional 15% of the home's appreciated value.
In the case of shared appreciation, the repayment limit will differ.
The below mentioned programs are for informational purposes only and may not be offered by Total Mortgage. We strive to provide comprehensive information about various mortgage assistance options available in the market. Eligibility requirements and program availability vary depending on your location, income, and loan type. We recommend you contact a Total Mortgage Loan Officer directly for details on qualification and enrollment. Check your eligibility(app.totalmortgage.com/apply?utm_source=assistance-programs)
Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.
Get an FHA loan in California even if you have a low credit score—as low as 580. Also, the down payment assistance required in this case is as low as 3.5%.
This is a loan assistance program for people in the military or veterans with zero down payment.
This is available for home buyers who wish to buy a home in a rural area. It does not require a down payment. The credit score required in this case is 640 or more.
This program requires a minimum low down payment, but there is a limitation in terms of area. You can save half of the purchase price.
Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.
*Terms and Conditions Apply. For complete details click here.
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