In order to qualify for a CalHFA loan, certain requirements must be met. They are:

• Be a first-time homebuyer. (CalHFA considers you a first-time homebuyer if you have not owned and occupied your own home during the last 3 years.). (This requirement is not necessary if the property is located in a Federally designated " Targeted Area *” )
• Have an annual household/family income within CalHFA’s income limits for the family size and county in which the home is located.
• Purchase a home that is within CalHFA’s sales price limits for the family size and county in which the home is located.
• Live in the home you are purchasing for the entire term of the loan, or until the home is sold or refinanced.
• Meet credit, income and loan requirements of the CalHFA lender and the mortgage insurer.
• Be a citizen or other national of the United States or a qualified alien.

*Targeted Areas: Census tracts in which 70% or more of the families have income which is 80% or less of the statewide median family income.

Homebuyers interested in applying for financing should contact one of CalHFA's approved lenders.

CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program.