CalHFA CalPLUS FHA + ZIP Combined Program

What is CalHFA CalPLUS FHA + ZIP Combined Program?

CalHFA CalPLUS FHA + ZIP Combined Program is a deferred second loan for homebuyers in California.

• CalPLUS FHA first mortgage (slightly higher rate) combined with ZIP (Zero Interest Program) closing cost assistance of 3% of loan amount. Addresses closing cost barrier for first-time buyers. Statewide CA.
• Up to 3.0% of purchase price in assistance.
• no monthly payments on DPA.
• Funding comes from State.

How much assistance does it provide?

CalHFA CalPLUS FHA + ZIP Combined Program provides assistance worth 3% of the purchase price, as set by the program.

• The program asks buyers to contribute 1% 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.

Do you have to pay it back?

CalHFA CalPLUS FHA + ZIP Combined Program is forgiven after 3 years, so a buyer 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.

Who qualifies?

CalHFA CalPLUS FHA + ZIP Combined Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

CalHFA CalPLUS FHA + 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.

What kind of home can it be used for?

CalHFA CalPLUS FHA + ZIP Combined Program caps the purchase price at $765,000.

• Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

CalHFA CalPLUS FHA + ZIP Combined Program serves buyers purchasing anywhere in California.

How do you apply?

Applications for CalHFA CalPLUS FHA + ZIP Combined Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through CalHFA Lender Portal (CLMS), and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.