CalHFA Conventional Loan Program – California Housing Finance Program

The CalHFA Conventional Loan Program is designed to help expand housing access and affordability through a variety of financial tools including loans, grants, credits, and down payment support. Programs in California are offered by state or local housing agencies to meet the diverse needs of homebuyers — from first-time buyers and veterans to rural homeowners and educators.

Each initiative is tailored to provide targeted assistance through funding, interest rate reductions, flexible underwriting, or partnerships with nonprofits and lenders. These resources are key to strengthening long-term housing stability, affordability, and ownership opportunities across California communities.

• Must be a legal resident or intending to buy a home in the state of California

• Subject to income and property value limits based on the program

• May require first-time homebuyer status or homeownership education

• Credit score and underwriting requirements may vary

• Property must be owner-occupied and meet location-specific criteria

• Offers down payment and/or closing cost assistance

• May reduce monthly mortgage payments via rate reductions or credits

• Promotes ownership for teachers, veterans, low-income, and rural residents

• Can include forgivable or deferred second mortgages

• Supports affordable housing growth and financial inclusion

1. Visit the official housing agency or program website

2. Contact a participating lender to assess eligibility

3. Complete a homebuyer education course if required

4. Submit loan or grant application with required documentation

5. Complete approval, home inspection, and final closing procedures