How The Cal HFA or 0% Down Program Works?

You can get financing of up to 105% of your home’s purchase price or the appraised value – whichever is lower – through the CalHFA FHA. What’s more, there are opportunities to get closing cost and down payment assistance if you combine your CalHFA mortgage with a CalHFA junior loan program.

There aren’t any first-time homebuyer requirements to meet, but when it comes time to close escrow you cannot be the owner of any other homes. Plus, your FICO score must be at least a 640, or a 660 if you are purchasing a manufactured home. Remember, in order to qualify you have to finish your first-time homebuyer course and have the signed certificate delivered directly to us.