Homebuyer resources in Sacramento

Make Sac your forever home

Buying a home in Sacramento can be a little less stressful thanks to CalHFA. | Photo via Vrbo

Buying a home in Sacramento can be a little less stressful thanks to CalHFA.

Photo via Vrbo

Table of Contents

Just the idea of looking to buy a home can seem like an overwhelming + daunting task sometimes, especially with Sacramento having one of the nation’s most competitive housing markets.

We wanted to take a moment to highlight some of the programs available through the California Housing Finance Agency (CalHFA) that can help ease that burden, especially for first-time homebuyers. Remember — CalHFA programs have income eligibility requirements, with interested borrowers in Sacramento County needing to make no more than $225,000 annually.

🏡 Down payments

Coming up with the cash to put a down payment on your home can be one of the biggest obstacles to overcome for first-time buyers. Thankfully, the state has the MyHome Assistance Program, which offers a deferred-payment loan of up to 3.5% of the home’s purchase price or appraisal value (whichever is less) to help first-time buyers with down payments and closing costs.

🏡 Mortgages

At the time of writing, average mortgage rates in Sacramento are 7.475% APR, for a 30-year fixed-rate mortgage. The state offers four main types of mortgage loans for first-time buyers, with the standard being the CalHFA FHA Loan Program, a 30-year, fixed-interest loan. The CalPLUS FHA Loan Program has a slightly higher interest rate, and is combined with the Zero Interest Program that helps with closing costs.

There are specialized loans as well, such as the CalHFA VA Loan Program for military members and the CalHFA USDA Program for those looking to purchase homes in more rural areas.

🏡 Not just first-time buyers

If you or a loved one already owns a home + are looking to make space for more family members, the state will reimburse you up to $40,000 for creating a secondary unit — like a backyard cottage — on your property through the Accessory Dwelling Unit Grant Program.

More from SACtoday
Dig into Sacramento’s must-try pizza shops including Uncle Vito’s, OneSpeed, and more.
Whew, it’s going to be a busy, eventful year in the City of Trees.
If you don’t have coffee already in hand, consider this your sign to grab some.
To LA, with love — here’s how Sac can help victims of the devastating January 2025 wildfires in Los Angeles.
Whether you’re a history buff, art aficionado, or science fan, these museums in Sacramento have it all.
Participating restaurants will offer prix fixe, three-course meals for $45, so it’s a great time to try a new spot in Sac.
Check out our list of books written by authors who have called the Sacramento area home.
The biggest step in completing your New Year’s resolution? Show up.
Well, maybe not us directly — but River City really is the gift that keeps on giving.
We’re here to make your flying process plane and simple.