First-Time Homebuyer Programs in California

By Julio Cobian, Mortgage Advisor in Butte County, CA

Buying your first home is a huge milestone—but saving for the down payment can feel like the biggest hurdle. The good news? California offers programs designed specifically to help first-time buyers. Here are some options you should know about.

1. CalHFA Loan Programs

The California Housing Finance Agency (CalHFA) offers affordable loan programs for first-time buyers. These often include fixed-rate mortgages with lower down payments and flexible guidelines.

2. Down Payment Assistance (DPA)

Many buyers don’t realize they can qualify for help with their down payment. Programs like MyHome Assistance and School Teacher and Employee Assistance (School Program) provide funds that can cover a portion of the upfront costs.

3. Closing Cost Help

Some programs also assist with closing costs, which can be thousands of dollars. This support allows buyers to keep more money in their savings for moving expenses or home improvements.

4. Local Programs in Chico and Butte County

In addition to statewide options, certain cities and counties offer grants or forgivable loans for qualifying buyers. Working with a local mortgage advisor in Chico, CA ensures you don’t miss out on these opportunities.

5. Do You Qualify?

Requirements vary, but most programs are for first-time buyers (or those who haven’t owned in the past 3 years), meet income limits, and plan to live in the home as their primary residence.

Final Thoughts

If you’ve been holding back from buying because of the down payment, these programs could make homeownership possible sooner than you think. As a mortgage lender in Chico, CA, I help clients explore these options every day and build a plan that fits their goals.

📲 DM me today or call to see which first-time buyer programs you qualify for.