PROGRAMS

TO HELP YOU PURCHASE A HOME

DOWN PAYMENT ASSISTANCE PROGRAMS

The money you use for a down payment on your home loan can be one of the biggest hurdles for many first-time buyers. What's why there are several state, local, and federal options available to you for down payment and closing costs assistance.

GOVERNMENT INSURED LOANS

CalHFA Loan Program
This program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage, fully amortized over 30 years.

CalPLUS FHA Loan Program
This program is an FHA-insured first mortgage with a slightly higher fixed interest rate than a standard FHA program, fully amortized for a 30-year term. This program is also combined with the CalHFA Zero Interest Program for closing costs, prepaid items and principal reduction.

Cal-EEM + Grant Program
The Cal-EEM + Grant program combines an FHA-insured Energy Efficient Mortgage first mortgage loan with an additional Cal-EEM Grant, making energy efficient improvements even easier. The interest rate on the Cal-EEM is fixed throughout the 30-year term.

CONVENTIONAL LOANS

CalHFA Conventional Loan Program
The CalHFA Conventional program is a first mortgage loan insured through private mortgage insurance on the conventional market. The interest rate on the CalHFA Conventional is fixed throughout the 30-year term.

CalPLUS Conventional Loan Program
The CalPLUS Conventional program is a conventional first mortgage with a slightly higher fixed interest rate than our standard conventional program. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for closing costs, prepaid items and principal reduction.

ASSISTANCE PROGRAMS

Extra Credit Teacher Home Purchase Program
This program is for teachers, administrators, school district employees and staff members working for any California K-12 public school, which includes Charter schools and county/continuation schools. Applicants must also be first-time homebuyers. Offers a deferred-payment junior loan of an amount not to exceed the greater of $7,500 or 3.5% of the sales price or in CalHFA-defined high cost areas an amount not to exceed the greater of $15,000 or 3.5% of the sales price. Assistance can be used for down payment.

Daisy Down Payment Program
For those eligible, you may receive up to a maximum of $7,500 for down payment assistance, plus an additional $7,500 for closing costs for a total of $15,000 towards the purchase of your new home.

NSP2 Neighborhood Stabilization Program
Created to promote neighborhood stabilization through increased home ownership opportunities, the neighborhoods selected are chosen for their strategic importance to Southern California. Proceeds may be used toward the purchase of a vacant, foreclosed, single-family residence located within a qualifying NSP2 area. Short sales are also eligible provided they are 60+ days delinquent on their mortgage.

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