Down Payment Path

Down Payment Assistance Programs in California

California offers a range of down payment assistance programs to make homeownership more attainable. These programs provide financial support for upfront costs and are available to a broad audience, not just first-time homebuyers, ensuring more individuals and families can achieve their homeownership goals in the Golden State.

CalHFA MyHome Assistance Program

The CalHFA MyHome Assistance Program provides financial aid to help buyers cover down payments and closing costs.

  • Offers up to 3.5% of the home’s purchase price or appraised value as a deferred-payment loan.
  • Available to all eligible buyers using a CalHFA first mortgage.
  • Repayment is deferred until the home is sold, refinanced, or paid off.

CalHFA ZIP Extra Program

The CalHFA Zero Interest Program (ZIP Extra) helps buyers manage their closing costs by offering zero-interest loans.

  • Provides up to 3% of the loan amount to cover closing costs.
  • No interest or monthly payments are required; repayment is deferred.
  • Designed to complement CalHFA loans for low- and moderate-income buyers.

Golden State Finance Authority (GSFA) Platinum Program

The GSFA Platinum Program offers grants to assist with down payments and closing costs, helping more Californians purchase homes.

  • Provides up to 5% of the loan amount as a non-repayable grant.
  • Available for FHA, VA, USDA, and conventional loans.
  • Offers additional benefits for teachers, healthcare workers, and first responders.

GSFA OpenDoors Program

The GSFA OpenDoors Program offers flexible financial assistance options for buyers needing additional support.

  • Provides up to 7% of the loan amount for down payment and closing cost assistance.
  • Funds are offered as a combination of grants and deferred second loans.
  • Available to buyers with varying income levels and loan types.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate program helps buyers save on taxes by reducing their federal tax liability.

  • Allows homebuyers to claim a tax credit for a portion of their annual mortgage interest.
  • Can be combined with other down payment assistance programs.
  • Eligibility is based on income and purchase price limits.

Local City and County Assistance Programs

Many cities and counties across California offer additional assistance programs tailored to local needs.

  • Programs may include grants or low-interest loans for down payments and closing costs.
  • Regions like Los Angeles, San Francisco, and San Diego have unique initiatives to support buyers.
  • Eligibility criteria vary based on location and program specifics.

California’s down payment assistance programs provide valuable resources to reduce the financial barriers of homeownership. Whether you're purchasing your first home or upgrading to a new one, these programs can help you achieve your dream of owning a home in the Golden State.