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. 

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California Homebuyer's Downpayment Assistance

Financial Assistance for Homebuyers in California

In order to help homebuyers afford mortgage costs, the California Housing Finance Agency (CalHFA) has set up the California Homebuyer’s Downpayment Assistance Program (CHDAP). This 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. Borrowers intending to apply for CHDAP must meet certain requirements:
  • They must be first-time homebuyers
  • They must occupy the home as their primary residence
  • They are required to successfully complete a homebuyer education counseling course
  • Homebuyers’ income must fall under certain CHDAP limits, depending on the type of mortgage they have
  • Applicants must meet the requirement of their lender and mortgage insurer
CalHFA's income limits cannot exceed certain federal maximum limits and offers low interest rates for low to moderate income first time homebuyers in California. Income limits may be different for each program. Use the list below to choose the appropriate program limits:

Conventional Income Limits
CalHFA Conventional First Mortgage Income Limits (As of 07/18/16)
(CalHFA Conventional, CalPLUS Conventional; also, MyHome and ECTP when used behind a Conventional first)
 
FHA Income Limits
CalHFA FHA First Mortgage Income Limits (07/18/16)
(CalHFA FHA, CalPLUS FHA, Cal-EEM +Grant; also MyHome and ECTP when used behind an FHA first)
 
Other CalHFA Programs
CalHFA MCC Program Income Limits (07/18/16)
 
Maximum Federal Income Limits 
(for use in calculating Recapture and Loan Assumptions)
Federal Limits for Recapture and Loan Assumption - (04/19/09*)
 
*The IRS Revenue Procedure 2010-23 allows CalHFA to use the 2009 published income limits. Therefore, in 2010, first mortgage programs may use the income limits published April 20, 2009 by CalHFA Homeownership Program Bulletin #2009-05).

Down Payment Grants in California

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 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.

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.