What Is CalHFA?
The California Housing Finance Agency (CalHFA) provides affordable loan options for first-time homebuyers across the state. These loans come with down payment and closing cost assistance, making homeownership more accessible for many Californians.
But how do you know if you qualify?
Basic CalHFA Loan Requirements
To qualify for a CalHFA loan, there are several basic requirements you’ll need to meet:
-
First-Time Homebuyer Status: You must not have owned a home in the past three years.
-
Minimum Credit Score: Most CalHFA programs require a credit score of at least 660. Some may accept lower with certain conditions.
-
Income Limits: Your household income must fall within CalHFA’s published income limits for your county.
-
Homebuyer Education: You’ll need to complete an approved online or in-person homebuyer education course.
-
Primary Residence Only: The property you purchase must be your primary residence, not an investment or rental.
Property Guidelines
Not all homes are eligible. The home must:
-
Be located in California.
-
Meet CalHFA’s price limits.
-
Be a single-family, one-unit residence (some condos and manufactured homes may be approved).
Work With an Approved Lender
To apply, you’ll need to work with a CalHFA-approved lender (like us!). We help walk you through:
-
Verifying your eligibility.
-
Choosing the best loan option.
-
Completing the required paperwork.
Let’s See If You Qualify
If you’re curious whether you meet the requirements for a CalHFA loan, our team can help you figure it out quickly. We’ll look at your unique situation and guide you through next steps.
Find Out If You Qualify for CalHFA
Want to know if you’re eligible? Our team is here to help.
Contact us or fill out the quick form below to get started—no obligation.