The CalHome Program provides applicants up to 17 percent of the total property price for down payment assistance, and 4 percent (up to $10,000) in closing costs assistance. These funds come in the form of a loan with 3 percent simple interest per year, accrued annually.

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CalHome Program

Financial Assistance for Homebuyers in California

The San Diego Home Consortium offers individuals aid in purchasing their new home, with the Homebuyer Downpayment & Closing Cost Assistance (DCCA), or CalHome Program. CalHome provides first-time homebuyers with assistance funds that can be put toward the hefty, upfront costs associated with mortgage transactions.

Available Assistance
The CalHome Program provides applicants up to 17 percent of the total property price for down payment assistance, and 4 percent (up to $10,000) in closing costs assistance. These funds come in the form of a loan with 3 percent simple interest per year, accrued annually. No monthly payments are required on this loan, as it is deferred until the home is refinanced (not including an FHA Streamline Refinance), sold, paid off, or no longer serving as the borrower’s primary residence. The loan repayment will be one payment of the original principle loan amount plus any accrued interest.

Eligibility Requirements
The CalHome Program is only available to first-time homebuyers; those who have owned a home or been on the title for one within the previous three years cannot qualify for assistance. All applicants must have an annual gross household income at or under 80 percent of San Diego County’s area median income, as determined by HUD. They must also be able to contribute at least three percent of the purchase price from their own cash assets, and receive the maximum first mortgage loan for which they qualify. The program’s occupancy ratio mandates that there be no more than two people per living space, which includes bedrooms, living room, family room, den/study.

Homebuyer Education
Borrowers are also required to complete a HUD/CalHome-approved homebuyer education class to qualify for the program.

Property Requirements
Under the CalHome Program, any property purchased must serve as the borrower’s primary residence. This home must be located within the CalHome jurisdictional boundaries, which include unincorporated areas of the County of San Diego and the cities of: Carlsbad, Coronado, Del Mar, Encinitas, Imperial Beach, La Mesa, Lemon Grove, Poway, San Marcos, Santee, Solana Beach and Vista.

The property types eligible are a new or resale single-family detached units, condominiums, townhouses or a manufactured homes on a permanent foundation. Applicants must also make sure that their home does not exceed the program’s maximum purchase prices: $383,800 for new or existing properties, and $517,750 for attached townhomes or a condominiums and $517,750 for a single-family residence (subject to periodic adjustments). 

The home being purchased must be deemed free from any health and safety defects and lead-based paint hazards, via a Housing Quality Standards (HQS) inspection. Proof of initial building permit issuance must be provided. Applicants must also obtain flood insurance if the property is located in a flood plain.

Down Payment Grants in California

The City of Brentwood offers first-time homebuyers the Down Payment Assistance Program (DAP), which provides funds that go toward the down payment and/or closing costs. Assistance comes in the form of a deferred payment loan program for first-time homebuyers.

The CalHome Program provides applicants up to 17 percent of the total property price for down payment assistance, and 4 percent (up to $10,000) in closing costs assistance. These funds come in the form of a loan with 3 percent simple interest per year, accrued annually.

The California Homebuyer’s Downpayment Assistance Program is a deferred-payment junior loan that grants applicants up to 3% of the purchase price or appraised value of the property, which can be put towards the down payment and/or closing costs. 

The City of Downey has partnered with the local housing non-profit organization Neighborhood Housing Services (NHS) to provide down payment assistance in the form of a $60,000 loan, via the Downey First-time Homebuyer’s Program.

​The First Time Homebuyer Loan Program that was established by the City of Emeryville  provides down payment assistance to households at or below moderate income. This initiative gets individuals out of the renter’s trap by helping them to pay the heavy, upfront costs of purchasing a home.

The Extra Credit Teacher Home Purchase Program (ECTP) grants eligible applicants a deferred junior loan ranging between $7,500 and $15,000, which can only be combined with an eligible first mortgage loan from the California Housing Finance Agency.

Under the First Home Mortgage Program, applicants can receive up to 4 percent of the total first mortgage amount to be put toward paying the down payment and closing cost assistance. This assistance comes in the form of a grant, which has no repayment terms.

Califonia’s Golden State Finance Authority (GSFA) created the Platinum Program, which provides low-to-moderate income California homebuyers with down payment and/or closing cost assistance to help them achieve their goals of purchasing a home.

The FTHB Program provides down payment assistance in the form of a loan, the maximum amount of which may not exceed the lesser of the maximum HOME subsidy limit, 20 percent of the purchase price, or the amount needed as determined by underwriting criteria. The maximum loan amount will never exceed the amount of the primary loan.

The MyHome Assistance Program offers applicants a deferred-payment junior loan up to 3% of the purchase price/appraised value of the mortgaged property in order to help make the down payment or pay the closing costs.

CalHome Grant in order to help individuals achieve their dreams of homeownership. This program funds the Riverside Down Payment Assistance Program, which provides first-time homebuyers up to $50,000 to help pay the hefty, upfront costs on their new homes.

Santa Ana’s Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. These funds are available on a first-come, first-served basis, in the form of a zero-interest loan.

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