Facebook
X
Pinterest
Copy Link
California has over 400+ different down payment assistance programs that vary across the state, its counties, and cities.
Follow this Link to the website to begin learning which programs are right for you. This video will explain how to use this questionnaire.
I’ll be happy to go over the loan programs presented to you afterward.
You must be a first-time buyer. The property must become the primary residence. One must complete the homebuyer education counseling and obtain a certificate of completion. The property can include a single-family, one-unit residence, including approved condominium/PUDs and manufactured homes.
There are income limits to be able to use this program.
There used to be a sales price limit, but that has eliminated as of May 4, 2020, effective June 1, 2020.
To apply, you must work with a loan officer that is approved by CAlHFA. I know one.
MyHome Assistance Program is a down payment assistance program that is a second or junior loan.
This program is capped at $10,000 and can also be used for closing costs. There are some exceptions based on your occupation to be more than $10,000.
But unlike other junior loans, the payments for these are deferred. This means you only have to pay these back when you sell the home, refinance, or after you finish paying off the first loan. Whichever comes first.
You must be a first-time buyer. The property must become the primary residence. One must complete the homebuyer education counseling and obtain a certificate of completion. The property can include a single-family, one-unit residence, including approved condominium/PUDs and manufactured homes.
There are income limits to be able to use this program.
There used to be a sales price limit, but that has eliminated as of May 4, 2020, effective June 1, 2020.
To apply, you must work with a loan officer that is approved by CAlHFA. I know one.
