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Purpose: The CalHome Program is a City of Oakland program, operating jointly with participating lenders, to assist low-income, first time homebuyers with the purchase of homes in the City of Oakland.
Status: : Our CalHome Program funds are fully reserved at this time. Please check the website periodically for updates. We currently have a new program under development and are seeking additional funds for our programs. You may call our Programs Information line at 510-238-6201 or visit our Homebuyer Assistance Program page.
Maximum Amount: Loan amounts are 30% of the purchase price, not to exceed $60,000.
Minimum Amount: N/A
Eligible Applicants: Applicants must be First Time Homebuyers which is defined as someone who has not owned their principal residence during the previous three years. Some exceptions may apply.
Location: Property must be located in the City of Oakland.
Eligible Properties: Any owner occupied or vacant single family dwelling, including condos, townhomes and live work units. Purchase price cannot exceed $430,000.
Income: Applicants' annual household income cannot exceed 80% of the Area Median Income. Income of all household members 18 years or older must be considered (includes house/roommates).
Occupancy: Single-Family Dwelling; Owner-Occupied only
Eligible Uses: Primary Residence
Other Requirements: Buyers must contribute 3% of the purchase price from their own funds to pay for down payment or closing costs.
Interest Rate: 3.0% simple
- 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.
Prepayment Penalty: None
Security: Deed of Trust
How to Apply
Our CalHome Program funds are fully reserved at this time. Please check the website periodically for updates. You may call our Programs Information line at 510-238-6201 or visit our Homebuyer Assistance Program page.
- Reserve space in an Education Workshop by calling (510) 238-7486.
- After getting a certificate from the workshop, apply through one of the participating lenders. (Applications are NOT made directly through the City.)
Application: N/A. See lender for application.
*Area Median Income limits are revised annually. Click here for current limits.