CalHome Program

The CalHome Program partners with lenders to assist low-income, first-time homebuyers with buying a home in the City of Oakland. This program is now open and taking loan reservations.


This program is now taking loan reservations.


About the Program:

The City of Oakland’s CalHome Program operates jointly with participating lenders to assist low income, first-time homebuyers to purchase homes in Oakland.

The City of Oakland lends qualifying homebuyers the amount needed to fill the financing gap in order to afford a home purchase. The subsidy covers a portion of the downpayment to allow buyers to access first mortgage loans with better terms. The City loans are secured by a Deed of Trust on the property and require no monthly payments.

The City provides these loans to create affordable homeownership opportunities for low income households.

Maximum Amount: Loan amounts up to 30% of the purchase price, not to exceed $200,000.

Minimum Amount: N/A


Eligible Applicants: Applicants must be first-time homebuyers. A first-time homebuyer is someone who has not owned their main residence during the last three years. Some exceptions apply.

Oakland Resident/Worker/Displacee Requirement: The program is subject to the Oakland Residency requirements which limits buyer eligibility to households with an adult who is an Oakland resident, or an Oakland worker/student, or was displaced from an Oakland housing unit.

Location: Property must be located in the City of Oakland.

Eligible Properties: Owner occupied or vacant single family dwellings, including detached, condos, townhomes and live work units. Purchase price cannot exceed $1,305,000. A satisfactory General Home Inspection is required and the home must meet basic health and safety requirements.

Income: Applicants' annual household income cannot exceed 80% of the Area Median Income (AMI). Income of all household members 18 years or older must be considered (includes house/roommates). Current limits for 2023-2024 are $78,550 for a household of 1 person, $89,750 for 2 persons, $100,950 for 3, $112,150 for 4, $121,150 for 5, $130,100 for 6, $139,100 for 7, and $148,050 for 8 persons.

Occupancy: Owner-Occupied only

Eligible Uses: Primary Residence. Renting is prohibited.

Other Requirements: Buyers must contribute 3% of the purchase price from their own funds to pay for down payment or closing costs. Some exceptions for Section 8 buyers and very low income apply. Gift funds do not count towards the required buyer contribution.

Loan Details

Interest Rate: 3.0% simple

Payments/Terms: No Monthly Payments

· Due in 30 Years or when the borrower sells, transfers, refinances the property (under certain conditions) or converts the home to rental property.

· The CalHome second loan must be combined with a 30-year fixed first mortgage loan with taxes and insurance impounded

· 100% Maximum Combined Loan to Value (includes any FHA UFMIP)

· The City’s $262.50 application processing fee is collected when the home is under contract and the application processing begins

Approved Lenders: The institutions below are currently approved to layer their first mortgages with CalHome. The loan officers trained on CalHome at those banks are found on the Participating Lender List posted above. The list will be updated periodically as new lender data is received.

Align Mortgage Consulting Agency, Inc. • All California Mortgage/Division of APMC • Allied Mortgage Group, Inc • All American Pacific Mortgage Corp./DBAs • AmeriTrust Mortgage CorporationBank of America • BMO Bank, N.A. • Cal Coast Financial Corp. • Caliber Home Loans, Inc./Newrez LLC • CrossCountry Mortgage, LLC • Diversified Capital Funding, a Division of APMC • Envoy Mortgage • Fairway Independent Mortgage Corporation • Guaranteed Rate, Inc. • Guaranteed Rate Affinity, LLC • Guild Mortgage • Holmgren & Associates/APMC • Land Home Financial Services, Inc. • LaSalle Mortgage Services/APMC • Mountain West Financial, Inc. • Patelco Credit Union Preferred Rate/APMC • Primary Residential Mortgage, Inc./PRMI • SunnyHill Financial Inc. • Supreme Lending/Everett The Silver Duck Mortgage Lending UHM (Union Home Mortgage Corp.)US Bank

Prepayment Penalty: None

Security: Deed of Trust

Status: Program is funded and is currently accepting reservations. As of March 21, 2024 $1,025,177 is available to reserve.

Deadline: Funds are available by reservation on a first-come first-served basis.

How to Apply

Pre-Application Process for Homebuyers:

  1. Reserve space in a Homebuyer Education Workshop by visiting and selecting a workshop.
  2. After getting a certificate of completion from the workshop, prequalify through your choice of the above lenders. The lender screens buyers for program eligibility. Later, when the buyer has a home under contract, the lender reserves funds and coordinates submittal of the application to the City.

Application Process for the First-Time Homebuyer CalHome Program

  1. Attend a home buyer education workshop
  2. Get your loan pre-approval from a participating lender
  3. Select a real estate agent.
  4. Find a home.
  5. Sign a purchase contract.
  6. Complete the loan application with a participating lender and provide the purchase contract.
  7. Lender structures your financing package and reserves program funds.
  8. City of Oakland commits funds to the transaction. Funds are committed on a first-come-first serve basis only after the buyer is in contract and eligible financing is structured.
  9. Lender submits application to City of Oakland.
  10. City of Oakland verifies eligibility and issues approval letter.
  11. City coordinates loan closing and funding with first lender and escrow.

Application: The first mortgage lender assists buyers with the application. Buyers do not apply directly to the City.



For more information please contact the Homeownership Programs staff.

Phone: (510) 238-6201