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Down Payment Assistance Programs



  • CalHFA FHA & CalHFA Conventional: The CalHFA FHA program is an FHA-insuredm 30 year, fully amortized loan featuring a CalHFA fixed interest rate first mortgage. The CalHFA Conventional program is 30 year fixed-rate mortgage loan insured through private mortgage insurance on the conventional market. These loans can be combined with the MyHome Assistance or School Teacher and Employee Assistance (STEAP) and the Mortgage Credit Certificate Program (MCC).
  • CalPLUS with ZIP: The CalPLUS with ZIP program is a Conventional of FHA backed first mortgage loan combined with a CalHFA Zero Interest Program (ZIP), which is a deferred-payment junior loan of 3.0% or 4.0% of the first mortgage loan amountm fo closing costs. The interest rate on the CalPLUS is fixed throughout the 30-year term and the interest on ZIP is 0%. THis loan can be combined with MYHome Assistance of STEAP and MCC.
  • MyHome Assistance Program**: MyHome provides a deserred-payment junior loan - up to 3.5% of the purchase price, or appraised value, whichever is less, to be for your down payment and/or closing costs. (For first-time homebuyers* only)
  • School Teacher and Emplyee Assistance Program (STEAP)**: STEAP provides a deserred-payment junio loan (up to 4.0% of the lesser of the sales price or appraised value) for all employees currently employed in any K-12 CA public school, including public charter schools, school district offices and county/continuation schools throughout CA. STEAP subordinate loans can only be used for down payments and/or closing costs. (For first-time homebuyers* only)
  • Mortgage Credit Certificate (MCC): An MCC enables a first-time homebuyer to take a direct dollar-for-dollar tax credit on their federal income tax return, based on portion of their mortgage interest paid annually. The tax credit has the portenial to save the homebuyer thousands of dollars over the life of the mortgage loan. (For first-time homebuyers* only)

NMLS# 288738

 Liscensed by the Department of Real Estate, Doing Business As: California Lending Source, NMLS ID: 288738. A division of Real Estate Source Inc. Cal BRE: 0186919 | 1024 Iron Point Rd. CA 95630
​Ph: (866) 330-6414 Fx: (866) 322-6502 

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Learn More At www.calhfa.ca.gov