First-Time Home Buyer California 2026
Your complete guide to buying your first home in California. 2+ down payment assistance programs, FHA loans from 6.15%, and step-by-step guidance.
What First-Time Buyer Programs Are Available in California?
California offers 2 major first-time home buyer assistance programs. These include CalHFA MyHome Assistance, CalHFA Dream For All. Programs provide up to 3.5% of purchase price in down payment assistance through grants, forgivable loans, and below-market interest rates.
How Much Do I Need to Buy in California?
You can buy a home in California with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$27,475), and conventional loans start at 3% ($$23,550) on the median price of $785,000.
| Loan Type | Down Payment | $ Amount | Monthly P&I | Min Credit |
|---|---|---|---|---|
| VA Loan | 0% | $0 | $4,757 | 620 |
| USDA Loan | 0% | $0 | $4,885 | 640 |
| Conventional 3% | 3% | $23,550 | $4,738 | 620 |
| FHA Loan | 3.5% | $27,475 | $4,615 | 580 |
| Conventional 20% | 20% | $157,000 | $3,908 | 620 |
California Down Payment Assistance Programs
CalHFA MyHome Assistance
Deferred-payment junior loan for down payment
CalHFA Dream For All
Shared appreciation loan for first-gen buyers
5 Steps to Buy Your First Home in California
To buy your first home in California, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.
Check Your Credit & Finances
Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In California, you may need as little as $27,475 for an FHA down payment.
Get Pre-Approved
Compare rates from at least 3 lenders. Current California rates: 6.35% (30-year), 6.15% (FHA). Pre-approval shows sellers you're serious and locks your rate.
Apply for California DPA Programs
California has 2+ DPA programs. The CalHFA MyHome Assistance offers up to 3.5% of purchase price. Apply early—funding can be limited.
House Hunt & Make an Offer
Popular cities in California: Los Angeles, San Francisco, San Diego, Sacramento, San Jose. Median price is $785,000 (+4.5% YoY). Work with a local real estate agent who knows the market.
Close on Your New Home
Closing costs in California typically run 2-5% of the purchase price ($23,550-$39,250). Some DPA programs also cover closing costs.
Start Your California Home Buying Journey
Get pre-approved in minutes and see what you qualify for.
Get Pre-Approved NowCalifornia First-Time Buyer FAQ
What first-time home buyer programs are available in California?
California offers 2 major programs: CalHFA MyHome Assistance, CalHFA Dream For All. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.
How much down payment do I need in California?
As little as $0 (VA/USDA), $$23,550 (3% conventional), or $$27,475 (3.5% FHA) on the median price of $785,000.
What income do I need to buy in California?
Using the 28% rule, you'd need approximately $$197,788/year. The median household income in California is $84,907.
What is the FHA loan limit in California?
The 2026 FHA loan limit in California is $1,149,825. The conforming loan limit is $1,149,825.