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California Helping with your Down Payment on YOUR MORTGAGE!

Monday, January 29, 2018   /   by Sean Zanganeh

California Helping with your Down Payment on YOUR MORTGAGE!

California Homebuyer's Downpayment Assistance Program (CHDAP)

The CHDAP offers down payment assistance for first-time homebuyers who meet specified moderate income limits.

How The Program Works

The CHDAP provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less – to qualified borrowers to be used for their down payment or closing costs. This junior loan may be combined with a CalHFA or non-CalHFA first mortgage loan. This junior loan cannot be combined with the Extra Credit Teacher Program (ECTP).

Program Elements

Details and Reference Sources

First-Time Homebuyer
Borrower must be a first-time homebuyer purchasing a primary residence intended for owner-occupancy.

A borrower is considered a first-time homebuyer if they have not owned and occupied a home in the past three (3) years.

Income Limits
Refer to HCD moderate income limits established for the county in which the borrower is purchasing.

Sales Price Limits
Refer to CalHFA’s published sales price limits for the county in which the property is located.

Be a U.S. citizen, permanent resident alien or other qualified alien, if using in conjunction with a CalHFA first mortgage.

Property Eligibility
Single family, one unit residence, including condo/PUD.
Manufactured housing must meet eligibility requirements.

Available Through Approved Lenders
Refer to CalHFA’s approved lender list for a lender in your area.

Homebuyer Education Homebuyer education is required for all borrowers using this program.

Fannie Mae Homebuyer Counseling Counselors/Administrators Search
Freddie Mac Homebuyer Counseling Counselors/Administrators Search

Genworth Homebuyer Counseling Online Option (Genworth does not provide counseling to homebuyers with FHA firsts.)
HUD-approved Housing Counselors

Other Requirements
Must qualify for and meet the requirements of the CalHFA first mortgage loan, the lender, and the mortgage insurer/guarantor. Other program requirements may apply; please contact an approved lender for more details.

Additional Program Options:

Effective January 1, 2005, State Legislation has increased the amount of down payment assistance offered under the CHDAP, from 3% to 5% of the purchase price or the appraised value (whichever is less) for borrowers purchasing a newly constructed home in specific eligible areas. See the list of government entities that have eligible areas (such as, an infill opportunity zone, transit village development district or transit-oriented development plan area) or you may contact your local city/county planning department.

For More Information:


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