Down Payment Assistance


Down Payment

Fixed Rate

Mortgage Insurance

Minimum Credit Score: 660

Best for people who cannot save their own downpayment within a year.

California Down Payment Assistance

Frequently Asked Questions


Pros and Cons


Down payment assistance programs take several forms. They can be sponsored by governments, non-profits, or religious institutions. California has an excellent state-wide down payment assistance program that works anywhere in the state. The state funded agency that offers this assistance through lenders like us is called CalHFA.

  • Less or No Down Payment
  • Some programs help with closing costs also
  • Buy a home now instead of waiting for when prices are higher
  • Avoid increasing rents by owning sooner


Down Payment Assistance programs are not without their downfalls. There is "no free lunch" as they say. Below is a list of reasons why a California down payment assistance loan may not be right for you if you already have or can quickly save enough for your own cash to close.

  • Often higher rates
  • Debt-to-income ratio limited
  • Maximum limits on income to qualify

Bottom Line Image

The Bottom Line

If it's going to take you more than 1 year to save up for your down payment and closing costs then you may be better off utilizing a down payment program to secure your home and start realizing the benefits of home ownership

Ready to Apply for a Down Payment Assistance Program?