CalHFA CalPLUS Conventional + ZIP Combined Program

CalHFA CalPLUS Conventional + ZIP Combined Program is a deferred second loan for homebuyers in California. CalPLUS Conventional first mortgage combined with ZIP closing cost assistance of 3% of loan amount at 0% interest. No repayment until sale, refinance, or payoff. Statewide CA. Up to 3.0% of purchase price in assistance. no monthly payments on DPA. Funding comes from State.

CalHFA CalPLUS Conventional + ZIP Combined Program provides assistance worth 3% of the purchase price, as set by the program. The program asks homebuyers to contribute 3% of purchase price (borrower minimum). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

CalHFA CalPLUS Conventional + ZIP Combined Program is forgiven after 3 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, refinance, or payoff of first mortgage. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CalHFA CalPLUS Conventional + ZIP Combined Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Minimum 660 FICO score required for all borrowers. A homebuyer education course is required. Residency requirement: Primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. CalPLUS Conventional first mortgage paired with ZIP (3%); ZIP forgivable after 3 years.

CalHFA CalPLUS Conventional + ZIP Combined Program limits household income to 150% of the area median income, which varies by county and household size. Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

CalHFA CalPLUS Conventional + ZIP Combined Program caps the purchase price at $765,000. Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

CalHFA CalPLUS Conventional + ZIP Combined Program serves homebuyers purchasing anywhere in California.

Applications for CalHFA CalPLUS Conventional + ZIP Combined Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through CalHFA Lender Portal (CLMS). Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.