CalHome Program

The CalHome Program, also known as Homebuyer Downpayment and Closing Cost Assistance or DCCA, is available through the San Diego Home Consortium. Up to 17% of the sale price of a property is available for down payment assistance, and up to 4% (but no more than $10,000) is available for closing cost assistance. This is a deferred-payment loan with a 3% interest rate, which accrues annually.

The loan amount and any interest become due when the house is refinanced (unless it’s an FHA Streamline Refinance), sold, or is no longer the applicant’s primary residence, or when the first mortgage is paid off.

In order to qualify for CalHome, applicants must be first-time homebuyers, cannot have owned a house within the last three years, and fall within an annual household income limit of no more than 80% of the area median income. Further, borrowers must put down at least 3% of the sale price from their own funds, and their first mortgage loan must be the maximum amount they can qualify for. They must also finish an approved homebuying education course.

There is also a household size limit – there can only be a maximum of two individuals per living space in a house. “Living space” includes bedrooms, living rooms, family rooms, dens, and studies.

The property must be used as the applicant’s primary residence and be in Carlsbad, Coronado, Del Mar, Encinitas, Imperial Beach, La Mesa, Lemon Grove, Poway, San Marcos, Santee, Solana Beach, Vista, or the unincorporated areas of San Diego county. The house must be a new or resale single-family detached unit, condominium, townhouse or a manufactured home on a permanent foundation.

As of 2020, the maximum sale price is $383,800 for new or existing properties, $517,750 for attached townhomes or condominiums, and $517,750 for a single-family residence. An inspection will be required to verify that the house is safe and does not have lead-based paint. The original building permit will also need to be provided, and the property may need flood insurance if it’s in a flood plain.

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