Buying your first home in 2022? Here in California it can feel a little overwhelming, especially when house prices have been steadily climbing. First time home buyers have a vast number of resources to turn to for advice, education, and financial help.

Here’s what you should know

If you’re a California first-time home buyer with a 20% down payment, you can get a conventional home loan with a low-interest rate.

But don’t worry, very few first-time buyers have a 20% down payment to apply to their home. And you don’t need it, not by a long shot.

Here are a few home buyer programs that may be able to help you apply for a mortgage.

California Housing Finance Agency

CalHFA MyHome Assistance Program

If you qualify for the CalHFA MyHome Assistance Program, you could borrow up to $11,000 toward your down payment and closing costs. To qualify for the MyHome down payment assistance program, you must:

  • Be a first-time home buyer
  • Purchase a single-family home
  • Live in the home as your primary residence
  • Complete homebuyer education counseling
  • Meet income limits

There are some restrictions and borrowing limits on this home loan but for the most part, the average first-time home buyer can take advantage of this program. It’s one of the options we proudly offer.

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CalHFA Conventional

The CalHFA Conventional program is a first-mortgage loan insured through private mortgage insurance on the conventional market. The interest rate on the CalHFA Conventional is fixed throughout the 30-year term.

In order to qualify for the CalHFA Conventional program, borrowers must:

  • Complete the homebuyer education counseling and obtain a certificate of completion through an eligible home buyer counseling organization
  • Meet CalHFA income limits for this program
  • Purchase a single-family, one-unit residence, including approved condos



The interest rate of a CalHFA Conventional load will vary depending on your financial circumstances, lender fees, and other factors.

There are other first-time home buyer mortgage and loan programs available and as a direct lender, we can get your approval started.

You don’t have to do this on your own

Current mortgage rates are low but your interest rate may depend on a few different factors – including your credit score, down payment, loan type, and more.

Buying your first home doesn’t have to be hard. We’re here to help you apply for a mortgage. If you need more information or want to schedule your consultation contact us, the best California mortgage lenders, and we’ll help you get started.