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Purchasing a mobile home/manufactured home/modular home in a mobile home park where the purchase does not include the land. Single wide, double wide, or greater. Park charges space to rent.

What is Down Payment Assistance?

When you're buying a home, you typically have to pay a percentage of the value of that house. The average down payment on a house is estimated to be about 6% of the borrower's loan value, but some borrowers can put down as little as 3% depending on your loan type and credit score!
Coming up with the cash to pay for a down payment can be challenging, but with a down payment assistance program, you can receive a grant that will help you cover some or all of your down payment!

How to Get Down Payment Assistance:

Getting down payment assistance starts the same way as the everyday homebuying experience - with a pre-approval! Once you've gotten pre-approved, we'll have a general idea of the amount of down payment assistance that you'll need to buy a home.


Beyond your pre-approval, there are a few qualification criterias that you'll need to meet. These can vary from state-to-state and from lender-to-lender, but you can find some general qualification standards below:

  • 660 credit score or higher (Ask me how to boost your credit score)
  • You are a first-time homebuyer
  • The home must be your primary residence

What is CalHFA Down Payment Assistance?

If you qualify for CalHFA Down Payment Assistance, you can take out a simple interest rate subordinate loan with deferred payment. You can use the funds from this loan to help you cover the down payment, your closing costs, or both.

The assistance you receive through CalHFA is referred to as a "silent second loan" or "silent subordinate loan." What this means is that your payments are deferred, and will not come due until you finish paying on your mortgage, sell your home, or refinance. In other words, this down payment assistance loan will not be part of your monthly bills, even though you must repay it eventually.

Types of CalHFA Down Payment Assistance

CalHFA offers several types of down payment assistance:

  • CalHFA MyHome Assistance Program Government Loans (FHA): You can borrow up to 3.5% of the purchase price of the home or its appraised value (whichever is lower). Use it for closing costs or your down payment.
  • CalHFA MyHome Assistance Program Conventional Loans: Borrow up to 3% of the purchase price of the home or its appraised value (whichever is lower). Use it for closing costs or your down payment.
  • Zero Interest Program (ZIP): This program is available for closing costs only.
  • California Dream for All Coming Soon!

What is the California Dream for All program?

California Dream for All is a new program offered by the state of California that provides homebuyers with down payment money toward their first home. Homebuyers receive a shared appreciation loan to help them reach a down payment of at least 20% of their home's purchase price. This California housing program both reduces the primary mortgage loan and helps homebuyers avoid private mortgage insurance and higher interest rates.

How can I make sure I'm ready to take advantage of the California Dream for All Program?

Most first-time homebuyer programs require completion of a HUD-certified home buying course. Additionally, you can get financially ready by connecting with a CalHFA-approved lender as well as finding a real estate agent so you're ready to buy as soon as the program is available.

Are You Eligible for the CalHFA Down Payment Assistance Program?

To qualify for the CalHFA Down Payment Assistance Program, you must meet the following requirements:

  • You must be a first-time homebuyer in California.*
  • You need to be a US citizen, US national, or Qualified Alien.
  • You must intend to occupy the property you are purchasing.
  • There are requirements you need to meet for your credit and income.
  • You will have to participate in a homebuyer education counseling course and receive a certificate of completion.
  • The property you are purchasing must be eligible.

*There are some exceptions to the first-time homebuyer rule. Please consult with us for full details. Also, note that "first-time homebuyer" in this context is simply any homebuyer who has not owned a home within the past three years.

We Can Help You Apply for the CalHFA Down Payment Assistance Program

There is no need to put off buying a home because you are unable to afford a high down payment. Government-backed mortgage programs like FHA and VA loans and the CalHFA Down Payment Assistance Program can help.

If you have questions about the CalHFA Down Payment Assistance Program or would like to apply, please contact us today at 510-928-0566 to schedule your consultation.

You will need to bring documentation for your appointment. This includes bank statements, pay stubs, tax returns, and any other documentation that may help you verify your employment and income. We can serve you anywhere in California.

What is GFSA Down Payment Assistance?

GSFA Platinum Program

Down Payment Assistance - NOT limited to First-time Homebuyers

Down Payment Assistance through the GSFA Platinum Program may help you to purchase a home sooner than you thought possible. Consider what $10,000, $20,000 or even $30,000 could do to help you purchase a home.

Program Highlights

  • Financial assistance up to 5.5% of the First Mortgage Loan amount.
  • Assistance can be used towards down payment and/or closing costs.
  • A homebuyer does not have to be a first-time homebuyer to qualify.
  • Perfect credit not required. FICO scores as low as 640 can qualify.
  • DTI's up to 50% allowed in some circumstances.
  • 1 - 4-unit residences, condos, townhomes, and manufactured homes allowed
  • Flexible income limits (low-to-moderate income)
  • Various First Mortgage Loan types available to fit the needs of the homebuyer (FHA, VA, USDA and Conventional financing)

How to Apply if you're a homebuyer:

We are here to answer questions about the program and provide a general understanding of how it may help you purchase a home. When you are ready to discuss your personal financial situation and/or get started we can help you with all the required steps to take.

Barrett Financial Group, LLC is mortgage brokerage and we work with a network of participating lenders to process loan applications for the GSFA homebuyer assistance programs, furnish interest rates and APRs.

Platinum Standard - Applies to the majority of homebuyers. It provides assistance up to 5% of the first mortgage loan amount. The assistance is in the form of a 15-year fully amortizing second mortgage loan. The interest rate on the second mortgage is the same as the interest rate on the first mortgage loan and has monthly payments.

Platinum "Select" - Applies to certain occupations and types of mortgage loans. With the "Select", a homebuyer can qualify for assistance up to 5% of the first mortgage loan amount and not all of the assistance has repayment requirements. The primary amount of assistance is 3.5% in the form of a 15-year fully amortizing second mortgage loan. The interest rate on the second mortgage is the same as the interest rate on the first mortgage loan and has monthly payments. Additional assistance up to 1.5% may be available in the form of a gift, subject to market conditions. Any assistance provided as a gift does not have be repaid.

Platinum "Assist-to-Own:


"Assist-to-Own" down payment assistance is only available to individuals who are employed by one of the GSFA Member Counties (a County Employee). Verification of employment with the eligible County itself is required for eligibility. However, employees can purchase or refinance anywhere in California, as long as the home will be their primary residence.

The primary assistance for "Assist-to-Own" is provided in the form of a deferred second mortgage sized at 3.5% of the first mortgage loan amount. The second mortgage has a zero percent interest rate, which means no interest is accrued on the second mortgage, however, must be repaid to GSFA upon sale or refinance of the first mortgage.

Additional down payment and closing costs assistance is available in the form of a gift up to 2% of the first mortgage loan amount, subject to market conditions, for a total of 5.5% in the down payment and closing cost assistance.