The California Housing Finance Agency offers a suite of loan programs specifically designed to help first-time buyers get into a home with less cash upfront. The CalHFA FHA Loan combines an FHA first mortgage with optional junior loans for down payment and closing cost assistance. The MyHome Assistance Program provides a silent second loan of up to 3.5 percent of the purchase price that is deferred until you sell or refinance. Income limits vary by county — in Alameda County the limit for a two-person household is around $228,000. You must complete a homebuyer education course from a CalHFA-approved provider before closing. Ask your lender specifically if they are a CalHFA-approved originator as not all lenders participate.
FHA Loans
The CalHFA First-Time Buyer Program Explained
California's CalHFA program is one of the best-kept secrets for first-time buyers. Here is a plain-English breakdown of how it works.
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February 19, 2025
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