First-time home buyer programs in California and Los Angeles

State programs: what CalHFA offers

The California Housing Finance Agency (CalHFA) does not lend directly. You apply through a CalHFA-approved loan officer, who places you in a CalHFA first mortgage and, if you qualify, a down payment loan on top.

First mortgages. The CalHFA FHA program is an FHA-insured loan with a 30-year fixed rate. The CalHFA Conventional program is a 30-year fixed loan with private mortgage insurance. CalHFA publishes no single rate; it varies daily. CalHFA’s handbooks set minimum credit scores: 640 for its government (FHA, VA, USDA) loans (handbook revised May 2025), and 680 for conventional loans, or 660 if your income is at or below Fannie Mae’s 80% area median income limit (handbook revised June 2026). See FHA loans.

MyHome Assistance Program. MyHome is a deferred-payment junior loan for the down payment, closing costs or both. It pays up to 3.5% of the price or appraised value, whichever is less, with a CalHFA FHA loan, and up to 3% with a CalHFA Conventional loan. It cannot be used to pay off debt (CalHFA handbook, June 2026).

Dream For All Shared Appreciation Loan. This program pays up to 20% of the price, never more than $150,000. You repay the original amount plus a share of the home’s gain in value when you sell, transfer the home or pay off the first mortgage. The standard share is 20% of the appreciation. If your income is at or below 80% of area median income, the share drops to 15%. It can only be paired with the Dream For All Conventional first mortgage.

Status as of October 2026: closed to new applications. The 2026 portal opened on February 24 and closed on March 16, 2026. Vouchers went out by random drawing (CalHFA press release, January 16, 2026). On May 20, 2026, CalHFA released the next round of vouchers to people who had already applied; waitlisted applicants move up only if a voucher frees up. If you did not apply by March 16, you must wait for a future round; CalHFA has not announced one.

Who qualifies: definitions that matter

• First-time homebuyer (CalHFA): you have not owned and occupied a home in the last three years, and have not lived in a home owned by a spouse in that time. MyHome requires it.
• First-generation homebuyer (Dream For All only): at least one borrower has not been on title, held an ownership interest or been on a mortgage for a U.S. home in the last 7 years, and either has parents who own no U.S. home (or owned none at death) or was ever placed in foster or institutional care.
• Homebuyer education: one occupying first-time borrower must complete it. CalHFA accepts one online course, an eight-hour program that costs $100, or live counseling through NeighborWorks or a HUD-approved agency. Dream For All also requires a free one-hour course.
• Occupancy: you must live in the home; CalHFA FHA and MyHome bar non-occupant co-borrowers.

Income and price limits for Los Angeles

CalHFA limits apply to household income and took effect for reservations received on or after June 30, 2026 (Program Bulletin 2026-07).

Programs in Los Angeles

LIPA (City of Los Angeles). The Los Angeles Housing Department (LAHD) lends up to $161,000 for down payment, closing costs and acquisition. The loan carries 0% interest, needs no monthly payments and includes a shared appreciation provision: the City takes a percentage of the home’s gain in value. It is due on sale, title transfer, payoff of the first mortgage, or after 30 years. You need a middle FICO score of at least 660, an eight-hour education class, and 1% of the price from your own funds. The home must be a one-unit property inside city limits.

Reservation rounds. LAHD rations LIPA and its moderate-income twin MIPA (up to $115,000) by date. The remaining 2026 LIPA rounds are October 14 (20 reservations) and November 18 (15); the last MIPA round is December 16 (13). LAHD says the schedule may change. Its Mortgage Credit Certificate, a federal tax credit equal to 20% of yearly mortgage interest, is listed as out of funding.

HOP80 and HOP120 (LA County). The Los Angeles County Development Authority (LACDA) lends up to $100,000 or 20% of the price, whichever is less, at 0% interest with deferred repayment and a share of the appreciation. The home must be in unincorporated LA County or a participating city; the City of Los Angeles is not on the participating list. Applications are first-come, first-served. These figures come from LACDA’s page as published in June 2026; confirm current terms at HOP@lacda.org.

Worked example

An illustration, not a quote: a $600,000 home in Los Angeles County.

With Dream For All, a later sale at $700,000 means a $100,000 gain: at the standard 20% share, you repay $120,000 plus $20,000, or $140,000. For the full cost picture at closing, see California closing costs and California home prices.

How to apply

None of these agencies takes applications from buyers directly. Check your income against the limit, take the required education course early, then get pre-approved by a CalHFA-approved loan officer or an LAHD or LACDA participating lender. For LIPA, the lender submits your reservation on a round date. See our home buying steps and the Los Angeles page.