Even the idea of looking to buy a home can seem an overwhelming + daunting task sometimes, especially with Sacramentohaving 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 that can help ease that burden, especially forfirst-time homebuyers.
Buying a home in Sacramento can be a little less stressful thanks to CalHFA. | Photo via Vrbo
🏡 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 some people. Thankfully, the state has recently rolled out the Forgivable Equity Builder Loan, which offers a zero-interest loan of up to 10% of the home’s value for first-time buyers to use as a down payment.
The loan is also forgivable, provided the borrower occupies the home as their primary residence for five years. There are income eligibility requirements, however, with interested borrowers in Sacramento County needing to make no more than $72,720 annually.
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 own 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.
Use the buttons below to share this story with someone you know looking to buy a home.
California Time Traveler Camp | Mon., June 27-Fri., Jul 1 | 9 a.m.-4 p.m. | California Museum | $275 | Children will take a look back into California art, history, and culture from the past 300 years + venture into the future during this week-long day camp.
Stand-up Open Mic | Tuesdays | 8 p.m. | Sacramento Comedy Spot | $6 | From seasoned comics to stand-up newcomers, you never know who you might see — and that’s part of the laugh.
Paint Nite: Beach Bug | Tues., June 28 | 6 p.m. | Garcia’s Mexican Restaurant, 6049 Madison Ave. | $35 | Kick-off your night at this workshop designed to unleash your artistic abilities under the guidance of an expert. 🎨
Sip & Shop Wine Walk | Wed., June 29 | 4-8 p.m. | Old Sacramento Waterfront | Free | Enjoy wine tastings from participating stores + shop from the district’s selection of small businesses for the chance to win a prize. 🍷
Drag Bingo | Thursdays | 6 p.m. | Flatstick Pub | $5 | Enjoy a night of bingo, prizes, and beer.
SacJobs Summer Career Fair | Thurs., June 30 | 11 a.m.-3 p.m. | Lions Gate Hotel, 3410 Westover St. | Free | Meet with recruiters from state agencies + social programs as well as companies in a variety of fields. 💼
We have amonthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.
Yolo County is partnering with local farmers to offer guided tours that allow visitors to check out their sunflower fields without breaking the law. Sunflower-themed activities — including a hot air balloon ride, and a paint + sip — are also available. 🌻 (FOX40)
The Roseville Fire Department is reminding everyone to practice water safety around pools, lakes + rivers this summer. Some of their tips include always swimming with a buddy, as well as making sure children are supervised by an adult, even when using personal flotation devices. 🌊 (Roseville Today)
The Sacramento Library and the Department of Youth, Parks + Community Enrichment are offeringfree swim passes to any of the city’s participating pools this summer. Anyone who checks out and reads five books will receive one adult + one kids swimpass. 📚
The Sacramento Public Library has launched a summer program aimed at helpingteens learn life skills. Subjects covered by the “Adult 101” course include promoting health + wellness, as well as understanding marketing aimed at teenagers. Courses run online Tuesdays, and in person on Thursdays. (CBS13)
CPC Scientific — a San Jose-based biotechcompany — has chosen Rocklin’s Atherton Business Parkas the site of its new 41,000-sqft manufacturing center forsynthetic peptides. The company says it has been working with the city since Feb. to get permits for the location as fast as possible, but no opening date has been given yet. 🧪 (Sacramento Inno)
Two teams from the River City Rowing Clubqualified for the USRowing Youth National Championships this month. The Men’s Under 16 4x plus and the Men’s Under 17 2x plus squads rowed against more than 200 competitors in Sarasota, with the 4x+ team placing second in the final race. 🛶 (Davis Enterprise)
A new shopping center anchored by a 50,000-sqft Nugget Market is planned for a Rocklin development currently under construction. The project — which is part of the larger Placer Creek Whitney Ranch development — is expected to open in early 2024. No other tenants for the area have been announced. 🛍 (Sac Biz Journals)
An off-duty Sacramento police officer was among a group of people who rescued a man from a shark attack in Pacific Grove last week. Paul Bandy and his wife were celebrating their anniversary by paddleboarding off the Monterey Coast when they noticed the person in distress. (CBS13)
Content marked with a * is brought to you by our advertising partners and helps make this newsletter free.
Editor’s Pick: After we dropped our six hot dog spots in Sac piece last week, reader Gaylen suggested we check out Umai Savory Hot Dogs in Arden and what a recommendation it was. That Baco Maco really hit the spot for me, thanks Gaylen.
Missed Friday’s newsletter? We bridged the gap between the Tower Bridge’s past and present.
Content marked with an * was created in partnership with 6AM City’s advertising partners. Paid content helps keep this newsletter free. 6AM City may also receive a commission on purchases made through affiliate links in this newsletter.