Before diving into government programs, it’s a good idea to get a basic primer on basic lending and how to position yourself properly even before talking to a lender or government agency. The Calfree Quick Guide to Below Market Home Loans is a short introduction to positioning yourself for the best outcome. This guide is only available to Calfree members, so a no-obligation, opt-in is required to download. To download the guide shown on the left, navigate to the download page.

Government Programs

CALHFA (California Housing Finance Agency) is a state agency in California that provides financing for affordable housing projects and helps low- and moderate-income families and individuals in the state buy their first home. The agency’s mission is to “make a meaningful difference in the lives of California’s working families and individuals by providing financing and programs that create safe, decent and affordable housing.”

CALHFA offers a range of programs and services, including mortgage programs, down payment assistance programs, and rental assistance programs. The agency works with a network of approved lenders, developers, and other partners to provide financing and support for affordable housing projects throughout the state.

CALHFA also provides education and outreach services to help potential homebuyers understand their options and make informed decisions about purchasing a home. This can include information on how to qualify for a mortgage, how to access down payment assistance programs, and how to find and apply for affordable rental housing.

To be eligible for programs and services offered by CALHFA (California Housing Finance Agency), you must meet certain income and asset limits and meet other requirements. These requirements vary depending on the specific program or service you are interested in.

In general, CALHFA programs and services are targeted towards low- and moderate-income families and individuals in California. To be eligible for most programs, you will need to meet certain income limits based on the median income in your area and the size of your household. You may also need to meet other requirements, such as being a first-time homebuyer or having a minimum credit score.

Here are some examples of programs and services offered by CALHFA and the general eligibility requirements:

• First Mortgage Programs: These programs provide financing for low- and moderate-income homebuyers to purchase a home. To be eligible, you must meet income and purchase price limits, be a first-time homebuyer (or meet certain exceptions), and complete a homebuyer education course.

• Down Payment Assistance Programs: These programs provide financial assistance to help low- and moderate-income homebuyers with the down payment and closing costs associated with purchasing a home. To be eligible, you must meet income and purchase price limits and be a first-time homebuyer (or meet certain exceptions).

• Rental Assistance Programs: These programs provide financial assistance to help low-income individuals and families afford rental housing. To be eligible, you must meet income limits and have a demonstrated need for rental assistance.

It’s important to note that these are just a few examples of the programs and services offered by CALHFA, and the specific eligibility requirements may vary.  If you are a low- or moderate-income family or individual in California and are interested in purchasing a home or accessing rental assistance, you may be able to find more information and resources through CALHFA. You can visit their website or contact them directly to learn more.