Many renters believe they need 20% down to buy a home. In reality, there are several programs in California that can help cover the down payment and closing costs.
Many renters assume they need:
But many buyers purchase with:
Several California and national programs exist to help first-time homebuyers with down payment and closing costs.
Provides down payment and closing cost assistance for first-time homebuyers purchasing homes in California.
Key Benefits:
Typical Requirements:
A program designed to help buyers reduce the upfront cost of purchasing a home.
Key Benefits:
Typical Requirements:
One of the most common programs used with FHA loans to help cover the required 3.5% down payment.
Key Benefits:
Typical Requirements:
Many California cities and counties offer additional homebuyer assistance programs that can be combined with FHA loans.
Examples:
Key Benefits:
Typical Requirements:
Most programs share similar baseline requirements. Exact qualifications vary by program.
FHA loans are one of the most common financing options for first-time homebuyers. When combined with assistance programs, some buyers can purchase with very little out of pocket.
580+
Credit Scores Starting
3.5%
Down Payments As Low As
Flexible
Qualification Requirements
Many renters are surprised to learn they already qualify for homeownership. Let us help you explore your options.
