Down Payment Assistance Programs

Finding the cash for a down payment on a home can be difficult. Depending on the loan program, buyers can put down as little as 3.5%, but the catch is higher monthly payments and having to pay private mortgage insurance (PMI) on top of your monthly payments if you put down less than 20%. These programs are designed to help you put a larger down payment on your home. You will still need to qualify for these programs so make sure you talk to a representative.

Unison Down Payment Assistance Program

Unison Down Payment Assistance Program

Here's a summary of the key components of this program:
  • Private real estate investment program
  • No interest
  • No monthly payments
  • Provides up to 50% of the down payment (of a 25% down payment)
  • Only pay a transaction fee until you decide to sell your home
  • They earn a return on their investment by sharing in the value of your home when you go to sell - whether the value goes up or down.
Click the link below for more information about this program.

Extra Credit Teacher Home Purchase Program (ECTP)

Extra Credit Teacher Home Purchase Program (ECTP)

Here's a summary of the key components of this program:
  • The ECTP is a deferred-payment junior loan that can only be used for down payment assistance for eligible teachers, administrators, classified employees and staff members working in county/continuation or high priority schools in California.
  • Provides junior loans that range from $7,500 to $15,000 – depending on the area where the home is being purchased. This loan can only be combined with an eligible CalHFA first mortgage loan. ECTP subordinate loans can only be used for down payment assistance.
  • First time home buyers only
Click the link below for more information about this program.

CalHFA MyHome Assistance Program

CalHFA MyHome Assistance Program

Here's a summary of the key components of this program:
  • Provides a deferred-payment junior loan – up to 3.5% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. 
  • Must be combined with a CalHFA first mortgage loan.
Click the link below for more information about this program.