First-Time Homebuyers (en Español)
The California Housing Finance Agency (CalHFA) understands that buying your first home is a huge responsibility; it is also a huge opportunity. Owning your home means you can paint the walls with your favorite color, plant flowers and vegetables if you choose and plant the seed for an investment in your future.
Of course, before you leap into all of the benefits of homeownership, you should get prepared first. To help you get ready and get the most out of CalHFA’s loan programs and assistance, follow these easy steps.
There are ten tips that every first-time homebuyer should know. We suggest you review these guidelines so you’ll be well-prepared for finding and financing your first home.
Once you know which programs you could be eligible for (from Step 2), find all the details for each program by clicking on the Loan Programs tab above.
Now it’s time to start talking to an expert. CalHFA teams up with a number of approved loan officers who know all about our programs, financing, documentation, eligibility and other details. Click on the Find a Loan Officer tab above to find contact information for a Loan Officer in your area.
Frequently Asked Questions (FAQs)
1. Do I qualify for CalHFA programs?
To determine your eligibility, you can review the information provided under the Borrower Eligibility tab above.
2. What is the FICO Score requirement?
FICO score requirements will vary for each program. It’s best to review the individual Program Descriptions to determine the minimum FICO score requirements for each program. You can find the details for FICO scores in the borrower requirements section of each Program Description.
3. What programs are available?
CalHFA offers a variety of first mortgage and down payment assistance programs. You can find details on all of these programs under the Loan Programs tab.
4. What is the interest rate?
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.
5. What are the income limits?
Income limits vary according to program and the county in which the property is being purchased. It’s best to review the individual Program Descriptions to determine the income limit in your area. You can find the details for income limits in the borrower requirements section of each Program Description.
For more FAQs visit the CalHFA Homebuyer knowledgebase.
Not a first-time homebuyer? You may still apply for our first mortgage loans if your property is located in a Targeted Area.
Call CalHFA Toll Free 877.9.CalHFA.
For more than 35 years, the California Housing Finance Agency (CalHFA) has supported the needs of renters and first-time homebuyers by providing financing and programs that create safe, decent and affordable housing opportunities for low and moderate income Californians. Established in 1975, CalHFA was chartered as the State’s affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds. CalHFA is a completely self-supporting State agency, and its bonds are repaid by revenues generated through mortgage loans, not taxpayer dollars.