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Down payment assistance for California first time home buyers

Down payment assistance for California first time home buyers

If you’re a first time home buyer in California you might be wondering if there are still  down payment assistance programs available to help you buy your first home.

While most of the down payment assistance programs in California have gone the way of the dodo bird, all the dinosaurs and the quagga. The down payment assistance program offered by the State of California is still available to California First Time Home Buyers. The California Homebuyer’s Down Payment Assistance Program (CHDAP) recently announced some revisions to their guidelines.

Related: A down payment assistance program that’s working


Highlights of the CHDAP down payment assistance program:

  • Must be a first time home buyer or not owned a home in last three years
  • 3% down payment assistance
  • Down payment is a silent second (no payments) interest accrues at 3.25%
  • Can also be used for closing costs for Zero down payment loans like VA and USDA
  • Available in all California Counties
  • Maximum income:120% of HUD median (based on county and family size)
  • Maximum sales price:$417,000
  • Maximum assistance:$12,310
  • Minimum credit score: 640
  • Eligible property types: SFR and Condo
  • Maximum combined loan to value (CLTV): 103%
  • Maximum total debt to income ratio (DTI): 43%
  • Borrower minimum required investment based on credit score:
  • 640-679 = $1500
  • 680+      = $1000
  • Minimum required investment can be from borrower’s own funds or gift funds from qualified donor
  • Effective for all reservations made after July 1, 2013

Related: What is worrying California first time home buyers?


We have helped countless California first time home buyers find the right down payment assistance program. They all have one thing in common, they contacted us.

Contact a down payment assistance specialist



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