| Lender | LendingTree rating and “best of” category | Lender review |
|---|---|---|
 |  Refinance loans | Read our review |
 | VA loans | Read our review |
 | Jumbo loans | Read our review |
 |  Online mortgage experience | Read our review |
 | FHA loans | Read our review |
 | Home equity loans | Read our review |
 |  Mortgage loan variety | Read our review |
With sky-high home values, it can be difficult to become a homeowner for the first time in California. Fortunately, there are a number of first-time homebuyer programs that can help. Many are through the California Housing Finance Agency, as the ones highlighted below are.
The CalHFA Conventional Program offers low- to moderate-income homebuyers a fixed-rate, 30-year conventional loan at a competitive interest rate. While not restricted to first-time homebuyers, the program can be a good fit for new homeowners and matches favorably with Federal Housing Administration (FHA) loans in terms of down payment requirements and ongoing costs like mortgage insurance.
Eligible applicants must meet income limits and complete homebuyer education counseling. The home must be a single-family home or condo.
The CALPLUS Conventional Program is similar to the CalHFA program, but it features a higher interest rate in exchange for financing closing costs with a second loan at zero interest.
Eligible applicants must meet income limits and complete homebuyer education counseling. The home must be a:
The statewide MyHome Assistance Program offers first-time homebuyers a second loan that helps cover a down payment and closing costs.
Payments on these loans are deferred and cover up to 3.5% of the purchase price on an FHA loan or 3% on a conventional loan. The loan comes due when the home is sold, completely paid off or refinanced.
Eligible first-time homebuyers must meet income limits and complete homebuyer education counseling. The home must be a single-family home or condo.
Learn more:
→ 12 First time homebuyer programs
→ FHA loan limits in California
