Down Payment Specialty Products and Explanations
CalHFA Dream for All Updates
CalHFA Dream for all is a Down Payment Assistance Program that offers financial assistance to eligible homebuyers in California to help cover the costs of a down payment. The program has specific criteria that applicants must meet to qualify. Highlights and some requirements may be found here
FHA 100% CLTV Combo
FHA 100% CLTV Combo program is designed to increase homeownership opportunities individuals and families by offering 100% financing in the form of an FHA first lien up to 96.5% and a second lien up to 3.5%. The second lien may be used for down payment and/or closing costs. Highlights and some requirements may be found here.
CalHFA MyHome Assistance Programs
CalHFA Government Loans (FHA): MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3.5% of the
purchase price or appraised value to assist with down payment and/or closing costs.
CalHFA Conventional Loans: MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3% of the purchase
price or appraised value to assist with down payment and/or closing costs. Highlights and some requirements here.
MaxOne and MaxOne Plus
These products are exclusive to one of our lender partners and may be used in tandem with 2/1 Buydowns for even greater qualifying ability.
Options include DPA or a First and Second Combination product. Highlights and some requirements may be found here.
The HomeReady First Program (SPCP)
The HomeReady First program is a mortgage program offered by Fannie Mae, a government-sponsored enterprise that supports mortgage lending in the United States. It is designed to help low to moderate-income homebuyers purchase a home with more flexible eligibility requirements and favorable terms compared to traditional mortgages. This product offers Special Purpose Credits for closing costs.
HomeReady and FHA 2/1 Buydowns
Reach more buyers with 2/1 Buydowns. HomeReady provides flexible funding for a downpayment and closing costs can come from multiple
sources. Ideal borrowers include those with low income and limited cash for a down payment.