Unlocking Homeownership Through CalHFA: The CalPLUS Access Program

For many first-time homebuyers in California, saving a down payment and closing costs can be a significant hurdle. The California Housing Finance Agency (CalHFA) offers the CalPLUS Access Program to help bridge this gap, making homeownership more attainable.

What is the CalPLUS Access Program?

The CalPLUS Access Program combines a 30-year fixed-rate first mortgage with built-in assistance for down payment and/or closing costs. This assistance comes in the form of a deferred payment junior loan, meaning no payments are required until you sell, refinance, or pay off your first mortgage.

Key Features:

• FHA or Conventional.

• $0 Down Payment: Receive up to 3.5% of the sales price as down payment assistance. This assistance is a silent junior mortgage with no monthly payments and is deferred until certain events occur, such as selling or refinancing the home.

• Closing Cost Assistance: The Access closing costs assistance loan gives buyers additional assistance equal to an additional 2.5% of their loan amount. The Access loan is also a silent junior mortgage with no monthly payments and is deferred until certain events occur, such as selling or refinancing the home.

Eligibility Requirements:

• Must be a first-time homebuyer (not owned a primary residence in the past three years).

• Occupy the property as a primary residence.

• Meet income limits specific to your county.

• Complete a homebuyer education course through an approved provider.

Why Consider CalPLUS Access?

By reducing the upfront costs associated with purchasing a home, the CalPLUS Access Program empowers eligible Californians to achieve homeownership sooner. It’s an excellent option for those seeking financial assistance without the burden of immediate repayment.

Next Steps:

To explore this opportunity further, consult with a CalHFA-approved lender (yours truly) who can guide you through the application process and determine your eligibility.

Click here to work with me on your next mortgage.

~Rob

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