For many Californians, buying a home can feel out of reach due to high prices and the challenge of saving for a down payment. Fortunately, the California Housing Finance Agency (CalHFA) offers affordable mortgage programs and down payment assistance to help first-time homebuyers achieve their dream of homeownership. Whether you're struggling with upfront costs or need more flexible loan terms, CalHFA programs can make buying a home in California more accessible.
What Is the CalHFA Program?
CalHFA is a state-run agency that provides affordable home loan options, down payment assistance, and closing cost support to help first-time buyers afford a home. The program partners with approved lenders to offer competitive interest rates and special financing options, making homeownership possible even for those with limited savings.
Key Features of CalHFA Loans
✅ Down Payment & Closing Cost Assistance
✅ Competitive Fixed-Rate Mortgages
✅ First-Time Homebuyer Support
✅ Forgivable and Deferred Payment Loans
✅ Available for FHA, VA, USDA, and Conventional Loans
Who Qualifies for CalHFA Loans?
To qualify, buyers must meet CalHFA’s eligibility requirements, including:
✔ First-Time Homebuyer Status (cannot have owned a home in the past 3 years)
✔ Minimum Credit Score of 660-680 (varies by loan type)
✔ Meet Income Limits (varies by county and household size)
✔ Property Must Be in California & Used as a Primary Residence
✔ Complete a Homebuyer Education Course
How CalHFA Can Benefit Homebuyers
🔹 Reduced Out-of-Pocket Costs: Down payment and closing cost assistance ease the financial burden of purchasing a home.
🔹 More Affordable Homeownership: Fixed-rate mortgages ensure stable monthly payments.
🔹 Accessible to Moderate-Income Buyers: Many working professionals qualify without needing a large income.
🔹 Flexible Loan Options: Works with FHA, VA, USDA, and conventional loans.
🔹 State-Backed Support: Reliable financing from a trusted agency.
Types of CalHFA Loan Programs
1. CalHFA Conventional & FHA Loans
Fixed-rate first mortgage loans
Can be paired with down payment assistance programs
2. MyHome Assistance Program
Loans up to 3.5% of the home’s price for down payment & closing costs
Deferred payments (no repayment until the home is sold or refinanced)
3. CalHFA Dream For All Shared Appreciation Loan
Helps with down payment assistance
Repayment based on home equity appreciation
4. CalHFA VA & USDA Loans
100% financing for veterans and rural homebuyers
Can be combined with closing cost assistance
How Winglender Can Help
Navigating home loan options can be overwhelming, but Winglender specializes in guiding California homebuyers through the CalHFA process. Our mortgage experts will:
🏡 Determine your eligibility
📋 Help you secure down payment assistance
🔎 Find the best mortgage program for your needs
📉 Ensure you get the lowest possible rate
🚀 Streamline the application and approval process
Get Started with CalHFA & Winglender Today!
If you're a first-time homebuyer in California, CalHFA could be your ticket to affordable homeownership. Winglender is here to help you get pre-approved, find the best loan options, and guide you every step of the way.
📩 Contact Winglender today and take the first step toward owning your dream home!
