This BLOG On California Home Buyer Down Payment Assistance Program Was UPDATED And PUBLISHED On February 23rd, 2020
- Down Payment Assistance program that is available to first time home buyers who are residents of the state of California
- It is for California Home Buyers who can meet both credit/income requirements and property requirements
- California has one of the highest home values in the United States
- Many parts of California has double the home value than the rest of the United States
- Many first time home buyers have challenges in coming up with the down payment on their home purchase
- Due to the high values of California homes, the state of California has launched the California Home Buyer Down Payment Assistance Program
- This program is also known by many as CHDAP
In this article, we will discuss and cover the California Home Buyer Down Payment Assistance Program.
How Can You Qualify For The California Home Buyer Down Payment Assistance Program?
In order to qualify for The California Home Buyer Down Payment Assistance Program, the home buyer needs to be classified as a first time home buyer:
- CHDAP defines a first time home buyer as a person who has not owned a home for at least three years
- By not owning a home in the past three years, it means that a person has not ever owned a home
- This is their first time purchasing a home
Or a person who has owned and lived in a home buyer has sold their home and had no ownership of a home in the past three years.
Definition Of First Time Home Buyers In California
If you are meet the definition of California Housing Finance Authority First Time Home Buyer, you can qualify for two of CalHFA down payment assistance programs:
- The ECTP and MCC California first time home buyer down payment assistance programs
- To qualify for the California Home Buyer Down Payment Assistance Program, CalHFA requires to be an owner-occupant home buyer
- Second homes and investment home property purchases are not allowed
- Non-Occupant co-borrowers are not allowed under the California Home Buyer Down Payment Assistance Program
- The California Housing Finance Authority, CalHFA, requires buyers must enroll and complete with a certificate of completion certificate the California home buyer counseling educational course
- This course is sponsored and available at approved home buyers educational counseling center throughout the state of California
- To be eligible for this program, borrowers may not exceed the maximum permitted CHDAP income limit requirements mandated by CalHFA
- CHDAP does provide an income matrix chart with the various mortgage loan programs: VA Loans, USDA Loans, and Fannie/Freddie first mortgage positions
All lending guidelines and overlays of lenders need to be met to qualify for the CHDAP down payment assistance program.
Below Is The County Income Limits Which Depends On The Amount Of People Per Household
California County One Person Two People Three People Four People Five People Six People Seven People Eight People
ALAMEDA $78,550 $89,750 $101,000 $112,200 $121,200 $130,150 $139,150 $148,150
ALPINE $71,650 $81,900 $92,150 $102,350 $110,550 $118,750 $126,950 $135,150
AMADOR $58,150 $66,400 $74,750 $83,050 $89,700 $96,350 $103,000 $109,650
BUTTE $49,300 $56,350 $63,400 $70,450 $76,100 $81,700 $87,350 $93,000
CALAVERAS $58,550 $66,900 $75,300 $83,650 $90,350 $97,000 $103,750 $110,450
COLUSA $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
CONTRA COSTA $78,550 $89,750 $101,000 $112,200 $121,200 $130,150 $139,150 $148,150
DEL NORTE $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
EL DORADO $63,950 $73,050 $82,200 $91,300 $98,650 $105,950 $113,250 $120,600
FRESNO $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
GLENN $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
HUMBOLDT $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
IMPERIAL $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
INYO $55,300 $63,150 $71,100 $78,950 $85,300 $91,600 $97,950 $104,250
KERN $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
KINGS $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
LAKE $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
LASSEN $56,100 $64,100 $72,150 $80,150 $86,600 $93,000 $99,400 $105,850
LOS ANGELES $54,450 $62,200 $70,000 $77,750 $84,000 $90,200 $96,450 $102,700
MADERA $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
MARIN $86,550 $98,850 $111,250 $123,600 $133,500 $143,400 $153,300 $163,200
MARIPOSA $51,500 $58,850 $66,200 $73,550 $79,450 $85,350 $91,250 $97,150
MENDOCINO $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
MERCED $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
MODOC $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
MONO $66,850 $76,400 $86,000 $95,500 $103,200 $110,800 $118,450 $126,150
MONTEREY $57,700 $65,950 $74,200 $82,450 $89,050 $95,650 $102,250 $108,850
NAPA $72,350 $82,650 $93,000 $103,300 $111,600 $119,850 $128,150 $136,450
NEVADA $61,000 $69,700 $78,400 $87,100 $94,100 $101,050 $108,050 $115,050
ORANGE $73,250 $83,700 $94,200 $104,650 $113,050 $121,400 $129,750 $138,150
PLACER $63,950 $73,050 $82,200 $91,300 $98,650 $105,950 $113,250 $120,600
PLUMAS $52,100 $59,500 $66,950 $74,400 $80,350 $86,300 $92,250 $98,250
RIVERSIDE $54,600 $62,400 $70,200 $78,000 $84,250 $90,500 $96,750 $103,000
SACRAMENTO $63,950 $73,050 $82,200 $91,300 $98,650 $105,950 $113,250 $120,600
SAN BENITO $68,150 $77,850 $87,600 $97,300 $105,150 $112,900 $120,700 $128,500
SAN BERNARDINO $54,600 $62,400 $70,200 $78,000 $84,250 $90,500 $96,750 $103,000
SAN DIEGO $63,750 $72,850 $82,000 $91,100 $98,400 $105,650 $112,950 $120,250
SAN FRANCISCO $86,550 $98,850 $111,250 $123,600 $133,500 $143,400 $153,300 $163,200
SAN JOAQUIN $55,700 $63,650 $71,600 $79,550 $85,950 $92,300 $98,650 $105,050
SAN LUIS OBISPO $63,350 $72,400 $81,450 $90,500 $97,750 $104,950 $112,200 $119,450
SAN MATEO $86,550 $98,850 $111,250 $123,600 $133,500 $143,400 $153,300 $163,200
SANTA BARBARA $61,600 $70,350 $79,200 $87,950 $95,000 $102,050 $109,100 $116,150
SANTA CLARA $88,650 $101,250 $113,950 $126,600 $136,750 $146,850 $157,000 $167,150
SANTA CRUZ $73,100 $83,500 $94,000 $104,400 $112,750 $121,100 $129,500 $137,850
SHASTA $49,550 $56,650 $63,750 $70,800 $76,500 $82,150 $87,800 $93,500
SIERRA $60,650 $69,300 $78,000 $86,650 $93,600 $100,500 $107,450 $114,400
SISKIYOU $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
SOLANO $69,400 $79,300 $89,250 $99,100 $107,050 $115,000 $122,950 $130,900
SONOMA $69,400 $79,300 $89,250 $99,100 $107,050 $115,000 $122,950 $130,900
STANISLAUS $52,100 $59,500 $66,950 $74,400 $80,350 $86,300 $92,250 $98,250
SUTTER $49,900 $57,000 $64,150 $71,300 $77,000 $82,700 $88,400 $94,100
TEHAMA $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
TRINITY $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
TULARE $48,650 $55,600 $62,550 $69,500 $75,050 $80,600 $86,150 $91,750
TUOLUMNE $56,050 $64,000 $72,050 $80,050 $86,450 $92,850 $99,250 $105,700
VENTURA $75,000 $85,700 $96,450 $107,150 $115,750 $124,300 $132,900 $141,500
YOLO $64,600 $73,800 $83,050 $92,300 $99,700 $107,050 $114,450 $121,850
YUBA $49,900 $57,000 $64,150 $71,300 $77,000 $82,700 $88,400 $94,100
Property Eligibility Requirements On California Home Buyer Down Payment Assistance Program
The sales price of the property cannot be higher than California Housing Finance Authority maximum sales price caps which is established for the county.
- The subject property needs to be an owner-occupied property
- Second homes and investment homes are not eligible
- Only detached single-family homes, condominium units that are approved, and approved PUDs are eligible
- Condominium units need to comply with all first mortgage lender’s requirements
- Guest Homes, as well as in-law housing units, may qualify
- Manufactured homes are eligible
- This only holds true if the first lien position is secured by an FHA Loans and the home passes appraisal and meets all HUD Guidelines
- The maximum property lot size is capped at five acres
- Properties on leaseholds, land trusts, and co-ops do not qualify
Contact Us For More Information On California Home Buyer Down Payment Assistance Program
The Team at Gustan Cho Associates helps homebuyers with down payment assistance information nationwide. Borrowers who need more information on down payment assistance information in California or any other state in the nation, please contact us at Gustan Cho Associates at gcho@gustancho.com or call 800-900-8569. Text us for a faster response. Or email us at gcho@gustancho.com.
