California Down Payment Assistance Programs

There are over 50 Down Payment Assitance programs in California. Some are offered by the city, some are offered by the county and some are offered by the state. Some of them are based on your occupation. There are programs for teachers, Firefighters, Medical Workers, First Responders and even county employees.

Most people miss out on these because they don't know how to find them, but I got you covered, I host a webinar called "How to Buy a House Without Breaking the Bank" where I go over all the programs and how you can take advantage of them.

What are some of the most popular down payment assistance programs in California?

GSFA Platinum

  • Geographic Restriction: California

  • Available Product Type: FHA, VA, Conventional, USDA

  • Loan Terms: 30-year fixed rate, fully amortized

  • Maximum Assistance: Up to 5% of 1st loan amount (or up to $20,000)

  • Maximum LTV / CLTV: 96.5% / 105%

  • Maximum Loan Amount: Varies based on property

  • Notes: Includes options for down payment and closing cost assistance.

NHF Platinum

  • Geographic Restriction: 33 States

  • Available Product Type: FHA, VA, FNMA, USDA

  • Loan Terms: 30-year fixed rate, fully amortized

  • Maximum Assistance: Up to 5% of 1st loan amount

  • Maximum LTV / CLTV: Varies by program

  • Maximum Loan Amount: Varies based on property

  • Notes: Available in select states, including California.

CalHFA CalPLUS CONV w/ZIP EXTRA

  • Geographic Restriction: California

    • Available Product Type: Conventional

    • Loan Terms: 30-year fixed rate, fully amortized

    • Maximum Assistance: 3% of 1st loan amount PLUS $6,500 for closing costs

    • Maximum LTV / CLTV: 96.5% / 105%

    • Maximum Loan Amount: Varies by county and property type

    • Notes: Offers extra assistance for closing costs.

California Dream For All

  • Geographic Restriction: California

      • Available Product Type: Conventional

      • Loan Terms: 30-year fixed rate, fully amortized

      • Maximum Assistance: 20% of 1st loan amount or $150,000.00 which ever is less

      • Maximum LTV / CLTV: 95% / 105%

      • Maximum Loan Amount: $150,000.00

  • Notes: Currently out of funds

CHENOA

  • Geographic Restriction : California

  • Available Product Type: FHA Only

  • Loan Terms: 10-year term, amortized, interest rate matches the First Mortgage. Monthly payment is required on the 2nd mortgage. Forgivable: 30-year term, 0% interest rate. Forgiveness is after 36 consecutive, on-time payments for 3.5% DPA and 120 consecutive, on-time payments for 5% DPA.

  • Maximum Assistance: 3.5% or 5% of the purchase price of the home or the appraised value, whichever is less

  • Maximum LTV / CLTV / TLTV: 90%-96.50% CLTV

  • Maximum Loan Amount: Per FHA Loan Limits up to $766,550

  • Notes: No income limits. For best rates, borrower/s must have a qualifying income less than or equal to 135% of the area median income based on state/county of property.

NHF Emerald

  • Geographic Restriction: California

  • FHA Only

    Option 1- Forgivable 2nd

    * 2nd lien is deferred with 0 interest. It is due when the firs is paid off. Loan is forgiven

    after 10 years as long as the parameters are met.

    * No monthly payment

    Option 2- 10 Year loan

    * 10 year loan at a rate 2% above the rate on your first mortgage.

  • Maximum Assistance: Up to 3.5% of the sales price or appraised value, whichever is less.

  • Maximum LTV / CLTV / TLTV 96.50% LTV / 100% CLTV

  • Notes: No Income Limits.

GSFA Platinum Select

  • Geographic Restriction: California ONLY

  • Available Product Type: Qualified Essential Workers (Medical, Police, Firefighters, Teachers).

  • DPA up to 3.5% of the First Mortgage Loan Amount, plus an optional gift of up to 1.5% for a total of 5%.

    • Note rate: Same as the First Mortgage Rate Loan.

    • Monthly payments required.

    • DPA is due & payable upon sale, refinance, or payoff of the first mortgage.

    • No subordination allowed.

    • Gift is a true gift/grant and is forgiven immediately.

  • Maximum LTV / CLTV / TLTV:

  • Follow guidelines of the first mortgage

  • Maximum Loan Amount: Follow guidelines of the first mortgage.

  • Notes:

    Gift: The 1.5% gift is forgiven immediately.

    Eligibility: Available to Essential Workers.

    Underwriting: Follow guidelines of the first mortgage for all aspects.

Contact

Armando Novelo

NMLS 237243

Super Mortgage Bros

1900 W. Garvey Ave S. #100

West Covina, CA 91790

Phone: (626) 200-1838

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