California Down Payment Assistance

Term:  30 Year term on both 1st and 2nd mortgages

CalSTRS Interest Rates:  Check Today’s Rates Here

Conforming Loan Amount:  Up to $417,000 (Up to $505,612 - 1st & 2nd combined)

Non Conforming 1st Loan Amount:  Ups to $536,082 (Up to $650,000 1st & 2nd combined)

Max Loan to Value (LTV) - 1st:  80%

Max Loan to Value (LTV) - 2nd:  17%

Max Combined Loan to Value (CLTV):  97%

Important LTV Note:  LTVs must be exactly 80% and 17%

Loan Purpose:  Purchase ONLY

Eligible Properties:  Single Family Residence, Condominiums, Planned Urban Developments (PUD)

Down Payment:  3%  (1% must be from borrower’s owen funds)

Sources of Closing Costs:  Borrower’s own funds, seller contributions up to 3%, gift from relative, or unsecured grant from approved government agency.

2nd Mortgage:  Deferred payments on the 17% 2nd mortage for the first 5 years.  Interest rate is same as rate on 1st mortgage.  Simple interest is accrued on 2nd mortgage and added to principle balance at the end of the 5 year deferred period.  The new balance is then fully amortized for the remaining 25 years.

Own Other Properties:  Borrower cannot own any other properties and only 1 CalSTRS mortgage at a time.

Minimum Credit Scores:  620 for Loan Amounts up to $400,000 / 680 for Loan Amounts between $401,000 and $650,000 (combined 1st & 2nd)

Counties Eligible: Alameda, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Lassen, Los Angeles, Madera, Marin, Mendocino, Merced, Modoc, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Clara, Santa Barbara, Santa Clara, Santa Cruz, Shasta, Sierra, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Tuolumne, Ventura, Yolo, Yuba

Cities Eligible: Adelanto, Agoura Hills, Alameda, Albany, Alhambra, Aliso Viejo, Alturas, Amador City, American Canyon, Anaheim, Anderson, Angels Camp, Antioch, Apple Valley , Arcadia, Arcata, Arroyo Grande, Artesia, Arvin, Atascadero, Atherton , Atwater, Auburn, Avalon, Avenal, Azusa, Bakersfield, Baldwin Park, Banning, Barstow, Beaumont, Bell Gardens, Bell, Bellflower, Belmont, Belvedere, Benicia, Berkeley, Beverly Hills, Big Bear Lake, Biggs, Bishop, Blue Lake, Blythe, Bradbury, Brawley, Brea, Brentwood, Brisbane, Buellton, Buena Park, Burbank, Burlingame, Calabasas, Calexico, California City, Calimesa, Calipatria, Calistoga, Camarillo, Campbell, Canyon Lake, Capitola, Carlsbad, Carmel-by-the-Sea, Carpinteria, Carson, Cathedral City, Ceres, Cerritos, Chico, Chino Hills, Chino, Chowchilla, Chula Vista, Citrus Heights, City of Commerce, City of Industry, Claremont, Clayton, Clearlake, Cloverdale, Clovis, Coachella, Coalinga, Colfax, Colma , Colton, Colusa, Compton, Concord, Corcoran, Corning, Corona, Coronado, Corte Madera , Costa Mesa, Cotati, Covina, Crescent City, Cudahy, Culver City, Cupertino, Cypress, Daly City, Dana Point, Danville , Davis, Del Mar, Del Rey Oaks, Delano, Desert Hot Springs, Diamond Bar, Dinuba, Dixon, Dorris, Dos Palos, Downey, Duarte, Dublin, Dunsmuir, East Palo Alto, El Cajon, El Centro, El Cerrito, El Monte, El Segundo, Elk Grove, Emeryville, Encinitas, Escalon, Escondido, Etna, Eureka, Exeter, Fairfax , Fairfield, Farmersville, Ferndale, Fillmore, Firebaugh, Folsom, Fontana, Fort Bragg, Fort Jones, Fortuna, Foster City, Fountain Valley, Fowler, Fremont, Fresno, Fullerton, Galt, Garden Grove, Gardena, Gilroy, Glendale, Glendora, Goleta, Gonzales, Grand Terrace, Grass Valley, Greenfield, Gridley, Grover Beach, Guadalupe, Gustine, Half Moon Bay, Hanford, Hawaiian Gardens, Hawthorne, Hayward, Healdsburg, Hemet, Hercules, Hermosa Beach, Hesperia, Hidden Hills, Highland, Hillsborough , Hollister, Holtville, Hughson, Huntington Beach, Huntington Park, Huron, Imperial Beach, Imperial, Indian Wells, Indio, Inglewood, Ione, Irvine, Irwindale, Isleton, Jackson, Kerman, King City, Kingsburg, La Cañada Flintridge, La Habra Heights, La Habra, La Mesa, La Mirada, La Palma, La Puente, La Quinta, La Verne, Lafayette, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Elsinore, Lake Forest, Lakeport, Lakewood, Lancaster, Larkspur, Lathrop, Lawndale, Lemon Grove, Lemoore, Lincoln, Lindsay, Live Oak, Livermore, Livingston, Lodi, Loma Linda, Lomita, Lompoc, Long Beach, Loomis , Los Alamitos, Los Altos Hills , Los Altos, Los Angeles, Los Banos, Los Gatos , Loyalton, Lynwood, Madera, Malibu, Mammoth Lakes , Manhattan Beach, Manteca, Maricopa, Marina, Martinez, Marysville, Maywood, McFarland, Mendota, Menifee, Menlo Park, Merced, Mill Valley, Millbrae, Milpitas, Mission Viejo, Modesto, Monrovia, Montague, Montclair, Monte Sereno, Montebello, Monterey Park, Monterey, Moorpark, Moraga , Moreno Valley, Morgan Hill, Morro Bay, Mount Shasta, Mountain View, Murrieta, Napa, National City, Needles, Nevada City, Newark, Newman, Newport Beach, Norco, Norwalk, Novato, Oakdale, Oakland, Oakley, Oceanside, Ojai, Ontario, Orange Cove, Orange, Orinda, Orland, Oroville, Oxnard, Pacific Grove, Pacifica, Palm Desert, Palm Springs, Palmdale, Palo Alto, Palos Verdes Estates, Paradise , Paramount, Parlier, Pasadena, Paso Robles, Patterson, Perris, Petaluma, Pico Rivera, Piedmont, Pinole, Pismo Beach, Pittsburg, Placentia, Placerville, Pleasant Hill, Pleasanton, Plymouth, Point Arena, Pomona, Port Hueneme, Porterville, Portola Valley , Portola, Poway, Rancho Cordova, Rancho Cucamonga, Rancho Mirage, Rancho Palos Verdes, Rancho Santa Margarita, Red Bluff, Redding, Redlands, Redondo Beach, Redwood City, Reedley, Rialto, Richmond, Ridgecrest, Rio Dell, Rio Vista, Ripon, Riverbank, Riverside, Rocklin, Rohnert Park, Rolling Hills Estates, Rolling Hills, Rosemead, Roseville, Ross , Sacramento, Salinas, San Anselmo , San Bernardino, San Bruno, San Carlos, San Clemente, San Diego, San Dimas, San Fernando, San Francisco, San Gabriel, San Jacinto, San Joaquin, San Jose, San Juan Bautista, San Juan Capistrano, San Leandro, San Luis Obispo, San Marcos, San Marino, San Mateo, San Pablo, San Rafael, San Ramon, Sand City, Sanger, Santa Ana, Santa Barbara, Santa Clara, Santa Clarita, Santa Cruz, Santa Fe Springs, Santa Maria, Santa Monica, Santa Paula, Santa Rosa, Santee, Saratoga, Sausalito, Scotts Valley, Seal Beach, Seaside, Sebastopol, Selma, Shafter, Shasta Lake, Sierra Madre, Signal Hill, Simi Valley, Solana Beach, Soledad, Solvang, Sonoma, Sonora, South El Monte, South Gate, South Lake Tahoe, South Pasadena, South San Francisco, St. Helena, Stanton, Stockton, Suisun City, Sunnyvale, Susanville, Sutter Creek, Taft, Tehachapi, Tehama, Temecula, Temple City, Thousand Oaks, Tiburon , Torrance, Tracy, Trinidad, Truckee , Tulare, Tulelake, Turlock, Tustin, Twentynine Palms, Ukiah, Union City, Upland, Vacaville, Vallejo, Ventura, Vernon, Victorville, Villa Park, Visalia, Vista, Walnut Creek, Walnut, Wasco, Waterford, Watsonville, Weed, West Covina, West Hollywood, West Sacramento, Westlake Village, Westminster, Westmorland, Wheatland, Whittier, Williams, Willits, Willows, Windsor , Winters, Woodlake, Woodland, Woodside , Yorba Linda, Yountville , Yreka, Yuba City, Yucaipa, Yucca Valley