Home Buyer Programs
City or Agency Program Description
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CalHFA
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California loan program for first time home buyers. The Cal30 Conventional loan offers up to 95% financing for the first mortgage. This loan may also be combined with CalHFA junior loan programs and other local community loan programs for down payment and closing cost assistance. CHDAP allows up to 3% of the purchase price for downpayment assistance. The maximum loan to value is 102%. See CalHFA for income and purchase price requirements.
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Mortgage Credit Certificate Program (MCC)
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Federal program administered by local counties for first time home buyers that provides a federal tax credit up to 15% of the first mortgage interest payments made during a calendar year. Funds are limited. See Santa Clara County MCC program.
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FHA + CHDAP
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Certain lenders will allow combining the 3% CHDAP downpayment assitance with 95% FHA financing that can total 98% total loan to value. Borrower will need to qualify for CHDAP financing.
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The Housing Trust has four low-interest, secondary liens to choose ($6,500 to $75,000). Loans vary by income eligibility based on one's household income and size, maximum loan amount and repayment terms. These loans can be combined with first-time loan programs sponsored by CalHFA, Santa Clara County or city housing programs.
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$35,000 to $50,000 downpayment assistance for full time public school teachers and credential staff in the city of San Jose.
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CalHFA 1st mortgage. Up to $75,000 down payment assistance from the city (Neighborhood Housing Services). 3% minimum downpayment required. Property must be located in the city. Priority given to residents who live or work in the city.
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