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First-Time
Homebuyers

Welcome to the Home-Owners Club.

Buying a home is likely one of the biggest purchases you will ever make in your entire life, so I understand how important this is to you.

First-Time Home Buyer Resources

Overview

                          Average Home Sale Price in CA:                                                                                         $856,600                      

                          Minimum Down Payment in California (3%):                                                                         $25,700

                          20% Down Payment in California:                                                                                        $171,320                       

                          Average Credit Score in CA:                                                                                                    721

                          Maximum CA Home Buyer Grant:       Deferred loan up to 17% of home's value (Silicon Valley only)                      

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California First-Time Home Buyer Loans

Conventional 97: You may qualify to get a loan with a 3% downpayment and 620 minimum credit.

FHA Loan: Backed by the Federal Housing Administration, you could qualify for an FHA loan

with a 3.5% down payment and a 580 minimum credit score.

VA Loan: Offers zero-down-payment options and requires a minimum credit score of 620.

(Only for veterans and service members.)

USDA Loan: For those on low-to-moderate incomes buying in designated rural areas.

Zero down payment required and credit score requirements of 640.

CalHFA Mortgage Programs: Government and conventional home loans provided via the

CA Housing Finance Agency. This offers 30-year fixed-rate first-time mortgages.

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Current Mortgage Rates Chart

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