First Time Homebuyer Programs in California

by: Michael Saunders

The California Housing Finance Agency, otherwise known as CalHFA, is an independent agency in the State of California that has been providing financial assistance to low and moderate income Californians in an attempt to help them seek safe, decent and affordable housing opportunities.

The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

In line with this mission, the California Housing Finance Agency has constituted the establishment of the California Homebuyer's Downpayment Assistance Program, more commonly referred to as CHDAP.

The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.

The CalHFA has stipulated guidelines that needs to be met when it comes to applying for its programs. In this case, if a borrower wants to qualify for the California Homebuyer's Downpayment Assistance Program, he/she must be:

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First Time Homebuyer Programs in California
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on artist grants and children grants.

Additional Resources

category - Home Buying Programs

Rural Community Development Initiative
The Rural Community Development Initiative can be awarded to legally qualified private, public, and tribal groups or organizations that have the experience and capability of providing training and technical assistance to nonprofit community-based housing and community development organizations, as well as low income rural communities.

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Grants From the Department of Housing and Urban Development
Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs.

She also maintains Websites providing resources on environmental grants and grants for youth programs.

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Affordable Housing Partnership Program for the First Time Home Buyers in California
The Affordable Housing Partnership Program is a housing opportunity that enables first time home buyers in the State of California to seek financial assistance from lending institutions that have formed a partnership with CalHFA for the purposes of this endeavor.

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Frequently Asked Questions about Buying Your First Home
The idea of buying a new home for the first time can be overwhelming for most people. It is probably the largest investment they have ever made, and the process itself seems downright intimidating. ...

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