Conventional Loan
Traditional financing with flexible terms
- 3% down payment
- PMI cancellation
- Multiple term options
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CalHFA FHA and Conventional Loans
California Housing Finance Agency Mortgage Programs
What is a CalHFA loan?
CalHFA offers first-mortgage programs for eligible California borrowers, including FHA-insured and conventional options. Some CalHFA programs can be combined with down-payment or closing-cost assistance; interest rates, credit score requirements, income limits, and availability follow current program and lender guidelines.
Guide answer
What is a CalHFA loan?
CalHFA offers first-mortgage programs for eligible California borrowers, including FHA-insured and conventional options. Some CalHFA programs can be combined with down-payment or closing-cost assistance; interest rates, credit score requirements, income limits, and availability follow current program and lender guidelines.
Reviewed by Sebastian Naranjo, Founder & Co-Owner, Licensed MLO, NMLS #2313958
Review standards
Reviewed lending guidance, not generic mortgage copy
Sebastian Naranjo reviews these guide surfaces for practical lending fit, borrower documentation, and program tradeoffs.
Licensed review
Loan guidance is reviewed by a licensed mortgage professional before it appears in the guide shell.
Program fit
Each page explains who the loan can fit, common tradeoffs, and when another program may be stronger.
California context
The guide keeps state lending context, local market differences, and borrower documentation in view.
California Housing Finance Agency
CalHFA home buying programs
CalHFA offers first-mortgage programs for eligible California borrowers, including CalHFA FHA and conventional loans. Some programs can be combined with down-payment or closing-cost assistance. Interest rates, minimum credit scores, income limits, assistance amounts, and program availability are set by CalHFA and the lender funding the loan, and they change over time. Learn more about FHA loans and how they can benefit you.
How It Works
Getting Started
To compare a CalHFA FHA loan, conventional program, current interest-rate options, and credit-score requirements, work with an approved CalHFA lender and visit CalHFA's official website to review current eligibility requirements and program details.
Program Detail
CalPLUS FHA Programs
The CalPLUS FHA program combines an FHA-insured first mortgage with the CalHFA Zero Interest Program (ZIP) for closing cost assistance.
Interest-rate pricing and borrower credit-score requirements can change and depend on the selected first mortgage, assistance option, lender, and current CalHFA guidance.
Program Detail
CalHFA VA Programs
CalHFA offers VA loan programs for eligible veterans and active-duty military personnel. Learn more about CalHFA VA programs and their benefits.
VA loans offer 100% financing with no down payment required for eligible veterans.
Program Detail
CalHFA USDA Programs
CalHFA offers USDA loan programs in partnership with the USDA Rural Development program for eligible rural areas in California. Learn more about USDA loans and their benefits for rural homebuyers.
These programs offer 100% financing with no down payment required for eligible properties in designated rural areas throughout California.
Program Detail
CalHFA Conventional Loan Programs
CalHFA conventional loan programs combine conventional financing with eligible California assistance options. Learn more about conventional loansand how their mortgage insurance, credit, income, and property requirements compare with government-backed programs.
CalHFA Conventional
The CalHFA Conventional program pairs a conventional first mortgage with assistance options under current program guidelines.
CalPLUS Conventional
CalPLUS Conventional program combines a first mortgage with the CalHFA Zero Interest Program (ZIP) for closing cost assistance.
This program provides down payment and closing cost assistance to make homeownership more affordable for California residents.
First-Time Buyers
First Time Buyer Programs
CalHFA offers first-time homebuyer programs with eligible first-mortgage, down-payment, and closing-cost assistance options.
A first-time buyer should compare current interest rates, credit-score requirements, income limits, repayment terms, and assistance conditions before selecting a CalHFA program.
Down Payment Help
Down payment and closing cost assistance
MyHome Assistance Program
The MyHome Assistance Program provides a deferred-payment junior loan to assist with down payment and/or closing costs.
This program can be combined with CalHFA first mortgage programs. Learn more about the MyHome Assistance Program and how it can help you achieve homeownership.
Zero Interest Program (ZIP)
The Zero Interest Program provides a deferred-payment second loan of up to 3% of the purchase price or appraised value to assist with down payment and/or closing costs.
Grant Funding
CalHFA Grant Programs
CalHFA offers various grant programs to assist with down payment and closing costs. These grants do not need to be repaid, making homeownership more accessible for eligible California residents.
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FHA Loans in California
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490 city guides across 58 California counties · All 58 counties statewide
Next Step
See If You Qualify for CalHFA
CalHFA FHA loans are one financing option for eligible California homebuyers. Learn more about how FHA loans can work with CalHFA programs, then compare current conventional and government-backed alternatives.
Financial Disclosure
The information provided on this page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates and terms are subject to change and may vary based on your individual financial situation. Please consult with a licensed mortgage professional at SRK CAPITAL for personalized guidance.
Compare Programs
Explore Other Loan Options
Not sure if FHA Loan is right for you? Compare with these alternatives.
USDA Loan
Rural area financing with zero down payment
- 0% down payment
- Low mortgage insurance
- Income limits apply
More FHA Loans Options
Updated 9/16/2026
FHA CalHFA Loans | California FHA Programs
CalHFA offers FHA-insured mortgage programs for California homebuyers, often paired with down payment and closing cost assistance. These programs combine FHA's flexible credit and down payment guidelines with state-sponsored support, helping eligible borrowers reduce upfront costs. Eligibility depends on income limits, property location, occupancy requirements, and lender approval. SRK Capital can help you review CalHFA FHA options based on your financial situation.
- CalHFA FHA loans combine FHA insurance with California state-sponsored assistance programs for eligible homebuyers.
- Down payment and closing cost assistance may be available, subject to income limits and program requirements.
- Approval depends on credit profile, debt-to-income ratio, and underwriting guidelines set by FHA and CalHFA.