Government programs for first time home buyers in california

You may also use a prequalification calculator to give you an idea of where you stand financially before contacting one of our Preferred Loan Officers. If you are a first-time homebuyer, and have been pre-qualified, you must attend a homebuyer education course. This education will help you understand the importance and responsibilities of homeownership.

In order to obtain a CalHFA home loan, your loan officer must produce your certificate of completion from one of the following entities:. If your offer is accepted, congratulations! Interest rates will vary depending on your financial circumstances, lender fees, and other factors.

Interest rates can also change daily. We recommend that you check with a loan officer to receive an accurate rate quote. For more FAQs visit our knowledgebase. Video: The Viramontes family finds a home, with the help of a great team.

CalHFA Explore all the options for buying your first home in the Golden State. Offered by most lenders, these national loan programs are always worth consideration, especially if you need flexible credit requirements or low down payment options.

Down payment and closing cost assistance available for low- to moderate-income borrowers. Some condos, manufactured homes and properties with guesthouses or in-law quarters allowed. In most cases, borrowers must be first-time home buyers and U. Must have a minimum credit score of Must meet all income and sales price requirements of the lender and mortgage insurer. Must take an approved home buyer education course and obtain a certificate of completion.

Property must be 5 acres or smaller in size. There may be additional program-specific requirements. MyHome Assistance Program for assistance with down payment and closing costs.

The following list includes many of the loan programs available to residents of San Diego and Imperial Counties. You should check with local lenders about the loan packages that may interest you and for which you may qualify. VA loans are available through lending institutions; however, only eligible military veterans may apply. CalVet : Only those veterans purchasing property in California and who were released honorably from active duty, having served at least 90 consecutive days during periods of war, are eligible for these loans.

For more information, contact a lender of your choice or view the HUD website www. These companies work closely with state and local governments, as well as community groups, to provide affordable homeownership opportunities. The U.