Sacramento Down Payment Assistance

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Sacramento Down Payment Assistance Lender

As a direct Sacramento Mortgage Lender, Capital Home Mortgage Sacramento is a Sacramento Down Payment Assistance Program Lender offering Sacramento Down Payment Assistance Programs.  As the Sacramento Mortgage Company we manage the entire lending process from start to finish. With in-house processing and underwriting, we provide quick, common-sense approvals and timely closings.

Give us a call today at (888) 620-7744 to speak with one of our knowledgeable Sacramento Loan Officers and get started on your path to homeownership!

Sacramento Housing and Redevelopment Agency (SHRA)

The CalHome Program is a state-funded initiative administered by the Sacramento Housing and Redevelopment Agency (SHRA) that provides financial assistance to low- and moderate-income first-time homebuyers. The program is funded by the California Department of Housing and Community Development (HCD) and aims to make homeownership more accessible by addressing affordability challenges in Sacramento and surrounding areas.

Key Features of the SHRA Program
Financial Assistance
  • Deferred Payment Loans
    • Offers loans for down payment and/or closing cost assistance.
    • Loan amounts vary but can go up to $100,000, depending on program funding.
    • No monthly payments are required while the homeowner occupies the property as their primary residence.
  • Interest Rates:
    • Loans are typically 0% interest, making the program affordable for participants.
  • Repayment Terms:
    • Deferred until the property is sold, refinanced, or no longer the homeowner’s primary residence.
Eligibility Requirements
  • First-Time Homebuyer:
    • Applicants must not have owned a home in the last three years.
  • Income Limits:
    • Household income must not exceed 80% of the Area Median Income (AMI), as defined by the state.
  • Primary Mortgage:
    • Applicants must qualify for and secure a first mortgage loan.
  • Homebuyer Education:
    • Completion of a HUD-approved homebuyer education course is required.
  • Asset Limits:
    • Applicants must meet asset thresholds to ensure assistance is provided to those most in need.
Eligibile Properties
  • Property Location:
    • Must be located within the jurisdiction covered by SHRA.
  • Property Types:
    • Single-family homes, condominiums, townhomes, or manufactured homes on permanent foundations.
  • Purchase Price Limits:
    • Properties must fall within program-defined purchase price limits, which are updated annually.
Application Process
  • Pre-Screening:
    • Applicants complete a pre-screening to determine basic eligibility.
  • Complete Homebuyer Education:
    • Attend a HUD-approved course and obtain a completion certificate.
  • Work with a Participating Lender:
    • Secure pre-approval for a primary mortgage loan through a lender familiar with the CalHome program.
  • Submit an Application:
    • Apply for assistance through SHRA once under contract for an eligible home.
  • Verification and Approval:
    • SHRA reviews the application and ensures compliance with program guidelines.
Program Benefits
  • Makes homeownership achievable for low-income families.
  • Reduces upfront costs, which are often the biggest barrier to homeownership.
  • Deferred payments mean borrowers do not face an additional financial burden while living in the home.
Important Considerations
  • Limited Funding: CalHome funds are distributed on a first-come, first-served basis and may be limited.
  • Affordability Restrictions: Homes purchased with CalHome assistance may have restrictions on resale to maintain long-term affordability.
  • Primary Residence Requirement: Assistance is only available for homes that will serve as the buyer’s primary residence.

For more details, including current income and purchase price limits, visit the SHRA CalHome Program webpage or contact the Sacramento Housing and Redevelopment Agency directly.

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California Mortgage Programs

California Purchase Home Loans

Looking to Purchase in California?

  • Primary, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

California Renovation Home Loans

Looking to Renovate a California Home?

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

California FHA Home Loans

Great First Time California Homebuyers

  • Smaller Down Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

California VA Home Loans

100% Financing for California Veterans

  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

California Conventional Home Loans

Flexibility for California Homebuyers

  • Primary, 2nd Home, Investment
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Terms
  • Renovation Programs Available

California Jumbo Home Loans

California Non-Conforming Mortgages

  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

California USDA Home Loans

California Rural Home Mortgages

  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

California Native American Loans

California Hud 184 Home Mortgage

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase, Refinance, and Renovation

California Manufactured Home Loans

Great California Affordable Housing

  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

California Reverse Home Loans

Your California Home at Work for You

  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

California Non QM Home Loans

Making California Mortgages Possible

  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

California Construction Home Loans

Build Your California Dream Home

  • Primary Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

California Refinance Home Loans

California Rate & Term Refinance

  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

California Cashout Home Loans

California Equity Cash Out Mortgage

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Dream Vacation
  • Higher Education

California Cities

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