California Homebuyer's Downpayment Assistance Program

California Homebuyer's Downpayment Assistance Program (CHDAP)

The CHDAP provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. This program may be combined with a CalHFA or non-CalHFA, first mortgage loan.

PROGRAM ELIGIBILITY

Am I eligible to apply for this program?
Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the CHDAP program.

Borrower Requirements

• Whether you are using CHDAP with a CalHFA or non-CalHFA first mortgage, you must still meet all borrower eligibility requirements of CalHFA.
  • Conventional loans must follow CalHFA's Cal30 borrower requirements.
  • Government-insured (FHA loans) must follow CalHFA's FHA borrower requirements.
• Your income must be less than the allowable CHDAP income limits.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

• Whether you are using CHDAP with a CalHFA or non-CalHFA first mortgage, you must still meet all property eligibility requirements of CalHFA.
  • Conventional loans must follow CalHFA's Cal30 property requirements.
  • Government-insured (FHA loans) must follow CalHFA's FHA property requirements.
• The sales price of the home can not be above the allowable CHDAP sales price limits.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

MINIMUM BORROWER CONTRIBUTION

Is there a minimum contribution that I need in addition to this down payment assistance?
When using a CHDAP loan, a minimum contribution is required from your own funds.  The contribution must be 1% of the sales price or $1,000, whichever is greater.