You Have Options!

Although down payment assistance is a fantastic option for many, Ryan will tell you, it’s not for everyone. As the phrase goes, “the devil is in the details”. However, sometimes all you need is a little financial help. The state of California has two main programs, below we will outline each!

Be sure to ask about our “Hybrid Loan” option. You cover the down payment, and we’ll help cover the rest!

Learn more, by click on the below to see which may be best for you.

Assistance

Up to 6%, based on the program chosen.

Closing Costs

FHA & Conventional

Get financing with either FHA of Conventional.

Programs Allowed

The Home You Want

Buy a Single Family, Condo, Multi-Unit or a Manufactured.

Property Types

640+ FICO Required

Less than perfect credit is okay.

Low FICO

Learn more

CalHFA Down Payment Assistance

CalHFA is a program designed for First-Time Buyers only. You must not have owned a home in the last three years to be eligible. The MyHome Program is an option for those who need assistance with the down payment. The ZIP Funds can be added for assistance with the closing costs.

Down payment assistance of 3.50% (FHA financing) or 3.00% (Conventional financing) to purchase a home.
These funds go toward the down payment only, there isn’t enough to cover the closing costs in this option.
Minimum 640 FICO is required and allws a debt-to-income (DTI) up to 45.00%. A 700+ FICO allows for greater purchasing power and a DTI up to 50.00%.

Add an additional 2% or 3% assistance on top of MyHome Funds of 3.50%.
With this program, receive a total of up to 6.50% in assistance. the more assistance = a higher rate.
These funds go toward the down payment and closing costs.
The amount of assistance chosen will dictate the interest rate. More assistance = a higher rate.

Add an additional 2.50% assistance on top of the MyHome Funds.

With this program, you can receive a total of up to 6.00% in assistance!
This newer program is a substitute to the ZIP Funds program at a lower rate.
Minimum 640 FICO is required and allows a debt-to-income (DTI) up to 45.00%. A 700+ FICO allows for greater purchasing power and a DTI up to 50.00%.

Discovery CalHFA Programs!

GSFA Down Payment Assistance

Down payment assistance up to 5.00% for both FHA and Conventional financing to purchase your home.
The more assistance = higher the interest rate.
Assistance funds are repaid as a 15-year fixed rate second mortgage.
Minimum 640 FICO is required and allows a debt-to-income (DTI) up to 45.00%. A 680+ FICO allows for greater purchasing power and a DTI up to 50.00%.

Add an additional 2% or 3% assistance on top of MyHome Funds.
With this program, receive a total of up to 6.50% of purchase price, the more assistance = the higher the rate.
The amount of assistance chosen will dictate the interest rate.

Discover GSFA Programs!

General Qualifications

Some of the most misleading advertisements today are about assistance programs. Most would be led to believe there are hundreds. Additionally, they are advertised as if some are strictly for teachers, only for police officers or other specific trades...

We are dedicated to removing the misrepresentation of these programs and always shoot you straight.

640+ Credit Score

640 minimum FICO scores are required for ALL buyers on a “DPA” loan. The minimum score rule applies to all signers.

Self Employed Okay

Self employed buyers are allowed! Qualifying is based on two years of filed taxes, net income.

Repeat Buyers

You can qualify if it’s your second property with some programs. However, not all programs are the same.

First Time Buyers

Some programs require that you’re a first time buyer, some don’t. We will help identify which best fits your situation.

Primary Residence

You must occupy the property as your primary residence. Not allow for second or investment homes.

1 Unit Requirement

Some programs only allow a 1-unit, condo or Manufactured home. Others will allow 2-4 units in certain situations.