CalHFA (California Housing Finance Agency)

Type

State Housing Agency

CalHFA, founded in 1975, is an independent state agency dedicated to providing Californians with access to affordable homeownership options. Through the sale of taxable and tax-exempt bonds, CalHFA offers low-rate housing loans to eligible borrowers. In addition to these loans, CalHFA also offers down payment assistance programs to help prospective homeowners with the upfront costs of purchasing a home. CalHFA seeks to make homeownership more attainable throughout the state.


First Mortgage Programs Offered by CalHFA (California Housing Finance Agency)
CalHFA FHA Loan

Best For: First Time Homebuyers, Low Down Payments, Lowest Rates

FHA program for California residents with below market interest rates and down payment assistance options.

Min. Credit Score

640

Min. Down Payment

3.5%

Max. Loan Amount

$472,030 - $1,089,300

CalPLUS with ZIP FHA Loan

Best For: First Time Homebuyers, Low Down Payments, Low Credit Scores

The CalPLUS FHA program is an FHA loan paired with the CalHFA Zero Interest Program (ZIP) for closing costs.

Min. Credit Score

640

Min. Down Payment

3.5%

Max. Loan Amount

$472,030 - $1,089,300

CalHFA Conventional Loan - Median Income

Best For: First Time Homebuyers, Low Down Payments

Conventional option for California homebuyers with incomes above 80% AMI that can be paired with down payment assistance of up to 3%.

Min. Credit Score

680

Min. Down Payment

3%

Max. Loan Amount

$726,200 - $1,089,300

CalHFA Conventional Loan - Low Income

Best For: First Time Homebuyers, Low Down Payments, Lowest Rates

Conventional loan for low income California homebuyers with below market interest rates, low mortgage insurance, and down payment assistance options.

Min. Credit Score

680

Min. Down Payment

3%

Max. Loan Amount

$726,200 - $1,089,300

CalPLUS with ZIP Conventional Loan - Low Income

Best For: First Time Homebuyers, Low Down Payments

Conventional loan with closing cost assistance for low income California homebuyers with low mortgage insurance and down payment assistance options.

Min. Credit Score

680

Min. Down Payment

3%

Max. Loan Amount

$726,200 - $1,089,300

CalPLUS with ZIP Conventional Loan - Median Income

Best For: First Time Homebuyers, Low Down Payments

Conventional loan with built-in closing cost assistance and options for down payment assistance for California homebuyers with incomes above 80% AMI.

Min. Credit Score

680

Min. Down Payment

3%

Max. Loan Amount

$726,200 - $1,089,300

CalHFA VA Loan

Best For: First Time Homebuyers, Lowest Rates, Zero Down

VA program for California Veterans or Active-Duty Military homebuyers with below market interest rates and up to 3% in available assistance.

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

$726,200 - $1,089,300

CalHFA USDA Loan

Best For: First Time Homebuyers, Zero Down

Rural Housing mortgage option from CalHFA for California USDA-designated rural areas that can be combined with closing cost assistance.

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

$726,200 - $1,089,300

CalHFA Dream For All Conventional Loan

Best For: First Time Homebuyers, Low Down Payments

Conventional mortgage from CalHFA used as the first mortgage for the Dream For All Shared Appreciation Loan.

Min. Credit Score

660

Min. Down Payment

3%

Max. Loan Amount

$726,200 - $1,089,300

Second Mortgage Programs Offered by CalHFA (California Housing Finance Agency)
CalHFA MyHome Assistance Program

Best For: First Time Homebuyers, Zero Down

The CalHFA MyHome Assistance Program provides up to 3% in down payment assistance in the form of a deferred payment mortgage.

Min. Credit Score

680

Min. Down Payment

0%

Max. Loan Amount

$726,200 - $1,089,300

Up to 3.00% of 1st Loan Amount Program Benefit Amount

CalHFA MyHome Assistance Program - FHA

Best For: First Time Homebuyers, Zero Down

The CalHFA MyHome Assistance Program for FHA provides up to 3.5% in down payment assistance in the form of a deferred payment mortgage.

Min. Credit Score

640

Min. Down Payment

0%

Max. Loan Amount

$472,030 - $1,089,300

Up to 3.50% of 1st Loan Amount Program Benefit Amount

CalHFA Dream For All Program

Best For: First Time Homebuyers, Zero Down

The CalHFA Dream For All Program provides up to 20% in assistance in the form of a deferred payment mortgage that is later repaid with appreciation.

Min. Credit Score

680

Min. Down Payment

0%

Max. Loan Amount

$726,200 - $1,089,300

Up to 20.00% of 1st Loan Amount Program Benefit Amount

CalHFA Dream For All Program - Low Income

Best For: First Time Homebuyers, Zero Down

The CalHFA Dream For All Program for Low Incomes provides up to 20% in assistance as a deferred payment mortgage that is repaid with appreciation.

Min. Credit Score

660

Min. Down Payment

0%

Max. Loan Amount

$726,200 - $1,089,300

Up to 20.00% of 1st Loan Amount Program Benefit Amount

See If You Qualify for CalHFA (California Housing Finance Agency) Loans

* ReviewMyMortgage.com Inc. is in no way affiliated with or endorsed by CalHFA or any of its subsidiaries. We are an educational resource website that compiles information on different financing institutions and the loan products they offer in the United States.

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