Hey there! Navigating the home-buying process can feel overwhelming, especially when you’re trying to figure out financing options. Let’s chat about the CalPLUS Conventional Loan Program, a fantastic resource for first-time homebuyers in California.

What is the CalPLUS Conventional Loan Program?

The CalPLUS Conventional Loan is a 30-year fixed-rate mortgage offered by the California Housing Finance Agency (CalHFA). It comes with a slightly higher interest rate than CalHFA’s standard conventional loan but includes the Zero Interest Program (ZIP), which provides assistance for closing costs at a 0% interest rate. [Source]

Key Features:

• Zero Interest Program (ZIP): This silent second loan covers closing costs and comes with a 0% interest rate. Payments are deferred, meaning you don’t have to repay it until you sell, refinance, or pay off your mortgage. [Source]
• Down Payment Assistance: You can combine this loan with CalHFA’s MyHome Assistance Program, which offers deferred-payment loans for down payment and closing costs. [Source]

Eligibility Criteria:

• First-Time Homebuyer: You must not have owned and occupied a home in the past three years. [Source]
• Income Limits: Your income should
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