ZIP – Allowed for non-First Time Homebuyers

The Zero Interest Program (ZIP) down payment loan does not have to be repaid until the home is sold, refinanced or paid in full. It is only available as part of the CalPLUS loan.

MyHome – Available only to First Time Homebuyers
MyHome provides a deferred-payment junior loan – up to 5% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. This program must be combined with a CalHFA first mortgage loan.

 

Benefits of Down payment Assitance programs

Helps you achieve the 45% DTI.