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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 addtional 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. We currently have a new program under development and are seeking addtional funds for our programs. 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.