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.
This loan program is not available in Wilkes-Barre, PA
Program Description
The 30-year fixed VA program from CalHFA for veterans and active-duty military can be combined with the MyHome Assistance Program which offers up to 3% in closing cost assistance (CCA). When used as a standalone program, it offers below market interest and does not have first time homebuyer requirement. If utilized with MyHome Assistance, must also be a first time homebuyer and homebuyer education is required.
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CalHFA VA Loan
Min. Credit Score
640
Min. Down Payment
0%
Max Loan Amount
$726,200 - $1,089,300
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- Can be combined with up to 3% in closing cost assistance
- Payments on assistance deferred for as long as you reside in the home
- Allows up to 50% DTI (Debt-to-Income)
- No mortgage insurance
- Available in all of California
- Income limit restrictions apply
- Requires the VA Funding Fee
- No multi-family properties allowed
- Manufactured homes not allowed
Program Availability
CalHFA VA Loans are available in 1 state.
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“The VA loan option from CalHFA can often have some of the lowest rates of any California state housing agency programs. Big savings!"
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
50.00%
Purchase Price Limit
No Limits
Income Limit
$159,000 - $300,000
Annual Qualifying Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- VA loan program from CalHFA for veterans and active-duty military
- Can be combined with CalHFA's MyHome Assistance Program
- 100% financing for eligible borrowers
Additional Conditions
- High balance loan amounts are allowed, but are subject to an additional fee (a percentage of the loan amount)
- Homebuyer education is required if for at least one borrower if any of the borrowers are a first time homebuyer
- Must be a first time homebuyer if combined with MyHome Assistance program
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class may be required for this loan program.
Class Name: eHome's 8-Hour Homebuyer Education or In-Person
CalHFA requires first time homebuyers using their program to complete homebuyer education and counseling. Only one borrower occupying each loan transaction needs to take the course. The course can be taken online through eHome, or in-person or virtually through NeighborWorks America or any HUD-Approved Housing Counseling Agency. The cost of the course varies by agency, and eHome's course costs $99.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: VA Funding Fee
The VA Funding Fee, which ranges between 1.25% - 3.3% of the loan amount, is charged on all VA loans unless the veteran has been entitled 10% or greater in disability.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 2.5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Grants, Bonds & 2nd Mortgages
There are certain programs that can be combined with this CalHFA VA program to help cover all or a portion of your down payment and closing costs, or provide additional borrower benefits.
CalHFA MyHome Assistance Program
|CalHFA VAThe CalHFA MyHome Assistance Program provides up to 3% in down payment assistance in the form of a deferred payment mortgage.
Max. Loan Amount
$726,200 - $1,089,300
Min. Credit Score
640
Min. Down Payment:
0%
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Nevada Housing FHA Loan - Home is Possible Teacher
Best For: First Time Homebuyers, Low Down Payments, Lowest Rates
FHA program for Nevada Teachers with down payment assistance options.
Virginia Housing VA Loan
Best For: First Time Homebuyers, Low Credit Scores, Zero Down
VA program for Virginia first time homebuyers with competitive interest rates and up to 2% in forgivable closing cost assistance.
Related Resources
First Time Homebuyer Guide
Being a first-time homebuyer has its fair share of challenges. One of your biggest obstacles will be competing against other new or seasoned buyers. While bidding wars have tapered since the previous buying season, they can still occur.
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VA Loan Guide
As a Veteran You Should Know All That Your Service has Entitled You to. The VA Loan Can Provide Many Valuable Advantages to Those Who Have Served Our Country.
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A Rundown On Closing Costs and How They Affect You
It can be tricky to sift through all the figures , so we broke down what they are, how much they cost, who's responsible and how to minimize your expenses.
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Veterans Administration Mortgage Loans in 2025: A Comprehensive Guide
The Veterans Administration (VA) mortgage loan remains one of the most valuable benefits provided to those who serve. Since its inception, the VA home loan program has helped millions of veterans achieve homeownership. With VA loans offering attractive benefits such as no down payment and competitive interest rates, 2025 is an excellent time for veterans to leverage this powerful tool to secure their dream home.
Read MoreVisit our Mortgage Education Center for more resources.
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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