First-Time Home Buyer Programs in California: What Is Real and How to Use It
California has real help for first-time buyers. The problem is that it is scattered across state agencies, joint powers authorities, counties and cities, each with its own rules and funding windows. Many buyers either do not know it exists or find out after they have already written an offer.
Ted Erickson is a CalHFA-approved mortgage broker in Novato with 24 years in the business. Here is a plain-English rundown of the main programs, who they fit and how they stack together.
How California Homebuyer Assistance Works
Most California down payment help is not a grant. It is usually a second loan that sits behind your main mortgage. The details that matter:
- Deferred payment: on many assistance loans, repayment is deferred. CalHFA calls these “silent seconds.” You repay when you sell, refinance or pay off the first mortgage.
- Paired first mortgage: the assistance has to be combined with a specific first mortgage from an approved lender.
- Limits: most programs have income limits by county and sales price limits.
- Education: most require a homebuyer education course before closing.
- Occupancy: the home must be your primary residence.
CalHFA Programs
The California Housing Finance Agency (CalHFA) does not lend directly. It works through approved lenders and loan officers like Ted.
CalHFA First Mortgages
CalHFA offers FHA, conventional, VA and USDA first mortgages for eligible buyers. Its CalPLUS versions pair the first mortgage with the Zero Interest Program (ZIP), which can help with closing costs.
MyHome Assistance Program
MyHome is a deferred-payment junior loan that can be used for the down payment, closing costs or both. It pairs with a CalHFA FHA or CalHFA conventional first mortgage. Key requirements:
- You must be a first-time homebuyer under CalHFA’s definition.
- The home must be your primary residence. Non-occupant co-borrowers are not allowed.
- Your household income must be within CalHFA’s limits for the county.
- At least one occupying first-time borrower must complete homebuyer education and counseling.
- Eligible properties include single-family homes and approved condos and PUDs.
California Dream For All Shared Appreciation Loan
Dream For All is CalHFA’s biggest assistance program, aimed at first-generation homebuyers. Instead of interest, you repay the original amount plus a share of the home’s appreciation when you sell, transfer the home or pay off the first mortgage. Borrowers with lower incomes may repay a smaller share of appreciation.
Important details:
- It runs in rounds. For 2026, applications opened February 24 and closed March 16. Vouchers are awarded by random drawing, not first come, first served.
- You need a pre-approval first. Applicants must get a pre-approval letter from a CalHFA-approved lender before applying.
- Requirements: all borrowers must be first-time buyers, at least one must be a first-generation buyer and a California resident, and household income must be within the county limit. A free one-hour Dream For All course is required on top of standard homebuyer education.
If you missed the 2026 window, get pre-approved now so you are ready when CalHFA announces the next round.
Other Programs Worth Knowing
GSFA Platinum
The Golden State Finance Authority, a California public agency, offers down payment and closing cost assistance through participating lenders. Unlike most CalHFA programs, it is open to both first-time and repeat buyers. The home must be your primary residence, and income limits vary by county.
FHA and VA Loans
Even without an assistance program, FHA loans offer flexible credit guidelines, and VA loans are a valuable benefit for eligible veterans and service members. CalHFA offers its own FHA and VA versions, and some can be paired with assistance programs.
Local Help in Marin County
Marin Housing Authority administers a below-market-rate (BMR) ownership program in San Rafael that sells homes at restricted prices to qualifying first-time buyers, with long-term resale restrictions. It also offers mortgage credit certificates to eligible BMR buyers. Other Marin towns run their own BMR lotteries.
Program Comparison
| Program | Who it is for | How it helps | Repayment |
|---|---|---|---|
| CalHFA MyHome | First-time buyers within income limits | Down payment and/or closing costs | Deferred until sale, refinance or payoff |
| CalHFA ZIP (with CalPLUS) | First-time buyers using a CalPLUS first mortgage | Closing costs | Deferred, zero interest |
| Dream For All | First-time, first-generation buyers within income limits | Down payment and/or closing costs | Original amount plus a share of appreciation |
| GSFA Platinum | First-time and repeat buyers within income limits | Down payment and/or closing costs | Depends on option chosen |
| Marin BMR ownership | Qualifying first-time buyers in participating Marin cities | Below-market purchase price | Resale restrictions instead of repayment |
How to Get Started
- Check your income against the county limits. Marin and Sonoma County limits differ.
- Take homebuyer education early. CalHFA accepts eHome’s online course or live counseling through NeighborWorks or a HUD-approved agency.
- Get pre-approved with a CalHFA-approved lender. Ted can check you for CalHFA, GSFA and standard programs at the same time.
- Tell your agent you are using assistance. It affects your offer timeline and the seller’s expectations.
- Shop within the program’s price limit.
Buying in the North Bay? Read about the 2026 conforming loan limit in California, and see Ted’s Novato mortgage broker and Santa Rosa mortgage broker pages, or the full Marin and Sonoma list. Ted is CalHFA-approved.
First-Time Home Buyer Questions
Talk to Ted
Not sure which program fits? Ted will check you against CalHFA, GSFA and standard loans in one conversation.
Call or text Ted at (415) 717-0477, or get your options online.
Sources
- California Housing Finance Agency: homebuyer loan programs
- CalHFA: MyHome Assistance Program
- CalHFA: California Dream For All
Ted Erickson (Theodore Emery Erickson), NMLS #223442. Barrett Financial Group, L.L.C., NMLS #181106, 3207 Grey Hawk Court, Suite 110, Carlsbad, CA 92010. CA 60DBO-46052 and 41DBO-148702, licensed by the Dept. of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Equal Housing Opportunity. Program availability, income limits and terms are set by CalHFA, GSFA and local agencies and can change. Not all borrowers will qualify. This article is general information, not a commitment to lend.
