Definition
California Housing Finance Agency program providing down payment assistance and favorable loan terms to first-time buyers in California.
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CalHFA offers multiple programs for first-time buyers including down payment assistance, favorable interest rates, and flexible credit standards. Programs include Statewide Traditional Mortgage and Affordable Housing Programs. Designed for moderate-income buyers. Down payment assistance ranges from 2-5%. Interest rates are below market. Restrictions on property location, price, and income apply. CalHFA programs reduce barriers to homeownership in high-cost California markets. Available through approved lenders.
Pro Tip
CalHFA programs are state-specific; check your state's housing agency for similar programs.
Example
A California first-time buyer obtained CalHFA financing with down payment assistance and below-market interest rates.