HCD CalHome Program (Direct State Allocation - Various Counties)

HCD CalHome Program (Direct State Allocation - Various Counties) is a deferred second loan for homebuyers in California. CalHome is a state-funded deferred loan program administered by HCD and allocated to local governments and nonprofits for first-time homebuyer assistance. Provides up to $100K at 3% simple interest, deferred 30 years. Up to $100,000 in assistance. no monthly payments on DPA. Funding comes from State CalHome.

HCD CalHome Program (Direct State Allocation - Various Counties) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, transfer, or refinance. 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.

HCD CalHome Program (Direct State Allocation - Various Counties) 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 620 FICO score required for all borrowers. A homebuyer education course is required. Residency requirement: Must occupy as primary residence in CA. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

HCD CalHome Program (Direct State Allocation - Various Counties) limits household income to 80% of the area median income, which varies by county and household size. Low income: household income ≤80% of Area Median Income (AMI). 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.

HCD CalHome Program (Direct State Allocation - Various Counties) caps the purchase price at $726,200. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

HCD CalHome Program (Direct State Allocation - Various Counties) serves homebuyers purchasing anywhere in California.

Applications for HCD CalHome Program (Direct State Allocation - Various Counties) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. 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.