BUY
3% down to owning your dream home and building your wealth.
20% down on a home is not the norm anymore.
Conventional loans: Buying a home
Buy with as little 3 to 5% down, depending on the type of conventional loan. Benefits of this loan include: no upfront mortgage premium and mortgage insurance that subsides after owner equity reaches 20%.
FHA Program: easiest for buying 1-4 units
Buying FHA can be the quickest route to home-ownership for first time buyers. With as little as 3.5% down, buying 1-4 units for the very first time can be a lot easier than you think.
Veterans & military servicemembers:
0% down and no mortgage insurance
For those who served, the VA loan offers one of the only 0% down programs available. Better yet, the VA loan does not require mortgage insurance, putting more buying power in your hands.
Why rent? You can own a home with 3% Down through Homeready & homepossible
Unlike conventional mortgages, HomeReady and HomePossible have lower mortgage insurance premiums and allow for more flexibility when qualifying.
FHA 203K: get your DIY fix with the “rehab” loan and fund up to 110% of projected value
Find a diamond in the rough that you think you can turn into your dream home? With the FHA 203K program, you can renovate an outdated home and turn it into something you’ll be proud to call your own.
Homestyle: you don’t have to live in it to renovate
Thinking about pulling money out of your home to renovate? With HomeStyle, you can cash in on your equity without the uncertainty of variable rates offered by traditional home equity lines of credit (HELOC).
DOWN PAYMENT ASSISTANCE for your home: GRANTS & LOANS AVAILABLE
For first-time homebuyers looking for an FHA or a conventional mortgage, grants and loans are available for down payment and closing cost assistance through our partner lenders and Cal HFA programs.