California First-Time Homebuyer Programs You Should Know in 2025

CalHFA, MyHome Assistance, FHA Loans & More

Buying your first home in California can feel overwhelming — especially when rising home prices and down payment costs make it seem out of reach.

What many buyers don’t realize is this: California offers multiple first-time homebuyer assistance programs that can significantly reduce your upfront costs.

From CalHFA’s MyHome Assistance Program to FHA-backed loans and national down payment assistance programs, there are options designed specifically to help first-time buyers get into a home sooner — without adding unnecessary monthly payments.

This guide breaks everything down simply, so you know what programs exist, how they work, and whether you may qualify.

What Is a First-Time Homebuyer in California?

In California, a first-time homebuyer is generally defined as someone who:

• Has not owned or occupied a home in the last 3 years

• Plans to live in the property as their primary residence

Even if you owned a home years ago, you may still qualify — which surprises many buyers.

Top First-Time Homebuyer Assistance Programs in California

1. CalHFA MyHome Assistance Program

One of the most powerful programs available to first-time buyers in California is the CalHFA MyHome Assistance Program.

How MyHome Works:

• Provides up to 3.5% of the purchase price when paired with a CalHFA FHA loan

• Provides up to 3% when paired with a CalHFA Conventional loan

• Can be used for down payment and/or closing costs

  
  

Why Buyers Love This Program:

• It is a deferred “silent second” loan

• No monthly payments

• Repayment only happens if you:

  • Sell the home

  • Refinance

  • Transfer ownership

  • Pay off your first mortgage

    
    

This means less money out of pocket upfront and more financial breathing room when moving in.

2. FHA-Backed Loans for First-Time Buyers

FHA loans, backed by the Federal Housing Administration, are designed to make homeownership more accessible.

FHA Loan Benefits:

• Lower credit score requirements compared to conventional loans

• Smaller down payment options

• Can be combined with CalHFA MyHome Assistance

  
  

For many first-time buyers, an FHA loan paired with CalHFA programs creates a powerful path to homeownership.

3. National Homebuyers Fund (NHF)

The National Homebuyers Fund offers assistance across many states, including California.

What NHF Provides:

• Down payment assistance grants or loans

• Options may include forgivable loans or repayable second loans

• Helps cover upfront costs for eligible first-time buyers

  
  

Program availability and requirements vary, so working with an experienced professional is essential.

4. Chenoa Fund

The Chenoa Fund is another popular option for buyers needing help with upfront costs.

Assistance Options:

• Forgivable loans (if conditions are met)

• Repayable second loans alongside your main mortgage

  
  

This program is often paired with FHA loans and is especially helpful for buyers with limited savings.

5. Bank of America Community Homeownership Commitment®

For buyers working with Bank of America, this program may offer:

• Down payment grants (up to ~$10,000)

• Closing cost assistance for eligible first-time buyers

  
  

Availability depends on location, income limits, and other eligibility factors.

Dream For All (CalHFA) — Returning in 2026

The Dream For All program, administered by CalHFA, is expected to return in 2026.

Key Highlights:

• Provides up to 20% of the home’s purchase price or closing costs

• Structured as a shared-appreciation loan

• Repayable when the home is sold or refinanced

  
  

Because this program has limited funding and high demand, preparation is critical.

Who Qualifies for CalHFA & MyHome Programs?

To generally qualify, you must:

1. Be a first-time homebuyer

2. Occupy the home as your primary residence

3. Meet county-specific income limits

4. Complete an approved homebuyer education course

5. Work with a CalHFA-approved lender

   
   

Income limits vary by county and household size and are updated regularly.

Property Requirements

Eligible properties typically include:

• Single-family homes

• Condos and townhomes (must meet loan guidelines)

• Manufactured homes on owned land (not leased space)

  
  

The home must be located in California and used as your primary residence.

Can You Combine Programs?

Yes — and this is where many buyers miss out.

Program Stacking Benefits:

• MyHome can often be combined with other CalHFA programs like CalPLUS with ZIP

• Stacking assistance can significantly reduce your upfront cash needs

• Strategy matters — not all combinations work for every buyer

  
  

This is why guidance is critical.

How to Apply for CalHFA MyHome Assistance

The general process looks like this:

1. Work with a CalHFA-approved lender

2. Determine which first mortgage works best for you

3. Complete a homebuyer education course

4. Get pre-approved and apply

5. Assistance is applied at closing

Why Working With the Right Realtor Matters

Many buyers qualify for assistance but never use it — simply because no one explained it properly.

That’s where expert guidance makes all the difference.

Akta Sharma, a California Realtor and first-time buyer specialist, helps clients:

• Understand which programs they qualify for

• Avoid missing out on available assistance

• Navigate pre-approval, offers, and closing with clarity

• Make confident, informed decisions — without pressure

Ready to Explore Your Options?

If you’re buying your first home in California and wondering:

• “Do I qualify?”

• “How much help could I get?”

• “Where do I even start?”

  
  

You don’t have to figure it out alone.

📲 Call or Text: 916-676-5049Akta Sharma | Realtor® | DRE #02182568