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    California First Time homebuyer programs

    Are you planning on buying a home in California for the first time? If so, you’re not alone. There are plenty of people who are thinking about buying a home for the first time and the great thing about that is there are a variety of programs that the State of California has created specifically for first time home buyers.


    The CalPLUS program is for first time homebuyers in California who are trying to get their first mortgages. It’s a great program since it’s insured by our Federal Housing Administration and comes with an interest rate that’s fixed during the 30 year term of the loan.

    Another great thing to mention about the CalPLUS program is that it’s also combined with another benefit called the CalHFA Zero Interest Program (ZIP), this benefit is actually a 3.5%, deferred payment, junior loan that can be used if you need down payment assistance.


    With the California Housing Downpayment Assistance Program (CHDAP), a deferred-payment junion loan up to 3% of the purchase price or appraised value of the home, whichever is less. You can combine the CHDAP with a CalHFA or non-CalHFA first mortgage loan.

    Are you a teacher, administrator, staff member or employee in California’s educational system? If so, you may qualify for California’s Extra Credit Teacher Home Purchase Program (ECTP). This program is awesome because it offers you a junior loan with a deferred payment that won’t exceed $7,500 or 3% of the homes sales price.

    Don’t miss out on taking advantage of the first time home buyer benefits that are available to you. For more information about these benefits, or to view the latest Orange County Homes For Sale, contact Fred Sed & Associates today by calling us at (949) 272-0125.

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    Our agents write often to give you the latest insights on owning a home or property in the local area.