The California Housing Finance Agency (CalHFA) recently announced it is offering Cal30, a fixed rate, 30-year loan with up to 95 percent financing. (That means only 5% down!) This new loan program is available for eligible first-time home buyers.

In addition to the Cal30 program, CalHFA also offers the California Homebuyer’s Downpayment Assistance Program, which can provide loans of up to 3 percent of a home’s value to assist with down payments and closing costs; the School Facility Fee Down Payment Assistance Program, which provides conditional grants to buyers of newly constructed homes for down payments, closing costs, upgrades, or other costs associated with the first mortgage loan; and the Affordable Housing Partnership Program, a joint effort between CalHFA and more than 300 cities, counties, redevelopment agencies, housing authorities and nonprofit housing organizations to assist with down payments and closing costs.

More information can be found here.