First-Time Home Buyer Programs in California
The biggest myth in home buying is that you need 20% down. You do not. Between FHA loans and low-down conventional programs, many first-time buyers get in with a fraction of that, and the sooner you know your real number, the sooner you can plan.
FHA: low down, flexible credit
FHA loans allow down payments as low as 3.5% and are more forgiving on credit than many conventional programs. They are a common on-ramp for first-time buyers who have steady income but have not saved a large down payment yet. Mortgage insurance applies, which factors into the monthly payment.
Low-down conventional
Conventional loans can also go well below 20% down for qualified buyers, and the mortgage insurance drops off once you reach enough equity, unlike FHA, where it often stays. Which path wins depends on your credit, your down payment, and how long you plan to stay. That comparison is exactly what Valerie runs for you.
Start with your numbers, not a guess
Before you fall in love with a listing, know your range. The affordability and closing-cost calculators on the site give you an honest first estimate in about a minute, no email required. Then a short call turns that estimate into a real pre-approval you can shop with.
Quick answers
How much down payment do I really need?
Often far less than 20%. FHA can be as little as 3.5% down, and some conventional programs go low too. Your exact number depends on the loan and your profile.
Is FHA or conventional better for a first home?
It depends on your credit, down payment, and timeline. FHA is flexible on credit, conventional can shed mortgage insurance sooner. Valerie compares both against your file.
What credit score do I need to buy?
There is no single cutoff, programs exist across a wide credit range, and FHA is notably flexible. Do not assume you do not qualify; ask before you rule yourself out.
Educational only, not a rate quote or loan offer. Programs, rates, and pricing vary by file and change daily. Valerie Sala · DRE #02006466 · NMLS #383851.