Lending
First-Time Home Buyer Loans in the Sacramento Region
Loan types and California down payment help for a first purchase, with the full cost shown.
Talk to Maggie directly: cell (916) 549-3131 (text or call) · maggie@loveyoursurroundings.coMaggie B. Hopkins, NMLS #349517 · Surroundings NMLS #2528307
What loans can you use for a first home?
A first home can be bought with most of the same loans as any other home. The common ones are conventional, FHA and VA loans, sometimes paired with state down payment help. Being a first-time buyer mostly matters for certain assistance programs, which have their own rules.
As a mortgage broker, Maggie B. Hopkins compares these options across a network of approved lenders. You see each one with the cash needed to close and the full monthly cost, including property tax and insurance. Give yourself options before you fall for a house.
How do conventional, FHA and VA loans compare for a first purchase?
- Conventional loans follow Fannie Mae and Freddie Mac rules. The FHFA set the 2026 baseline conforming loan limit for a one-unit home at $832,750 in most of the country (announced November 25, 2025).
- FHA loans are insured by the Federal Housing Administration. The CFPB says (page last reviewed February 2, 2024) the standards to qualify are generally more flexible than for conventional loans. The cost of the mortgage insurance is passed along to the homeowner.
- VA loans are for borrowers eligible for the VA home loan benefit. VA.gov lists no down payment as long as the price isn't higher than the appraised value, and no PMI. See our VA loan page.
The right choice often comes down to how much cash you have, how long you plan to stay and what the home needs. We show the trade-offs in dollars, side by side.
What down payment help does California offer?
The California Housing Finance Agency, or CalHFA, runs statewide programs through approved lenders. CalHFA's homebuyer programs page (checked October 17, 2026) lists first mortgage programs that include CalHFA FHA, VA, USDA and Conventional loans. It also lists CalPLUS versions that pair with help for closing costs.
The same page describes the MyHome Assistance Program as a deferred-payment junior loan. It's capped at the lesser of 3.5% (with FHA) or 3% (with conventional) of the purchase price or appraised value. The page also lists a Dream For All shared appreciation program with its own eligibility rules.
CalHFA programs carry income limits, price limits and rules that change, and some open and close with funding. We check what you qualify for at the time you apply instead of promising a program up front.
Do you need a homebuyer education course?
For CalHFA programs, yes. CalHFA's homebuyer programs page (checked October 17, 2026) says the eHome eight-hour online course is the only online course it accepts. It also accepts live in-person or virtual education through NeighborWorks America or a HUD-approved housing counseling agency.
Before you sign up, ask the course provider whether there is a fee and how long your certificate stays good. Then keep the certificate with your loan documents so it's ready when the lender asks.
Take the course early. It's useful even if you don't end up using CalHFA, and finishing it before you shop keeps it from holding up your closing.
What does a first home cost beyond the down payment?
The down payment is only part of the cash you need. You'll also have closing costs, prepaid property tax and insurance, and moving costs. Plan for a cushion after closing for the first repairs.
Property tax is a big piece of the monthly cost in California. Our Sacramento property tax calculator helps you estimate it, including the supplemental bill that can follow a purchase. Our mortgage calculator puts the full payment together.
Ask every lender about each cost. The CFPB's Loan Estimate comparison page (last modified December 12, 2024) says lenders often match or beat a competitor's offer. Your best bargaining chip is usually having other Loan Estimates in hand.
How does one team help a first-time buyer?
Maggie is a licensed real estate broker as well as a mortgage broker. The person explaining your loan also understands the offer, the inspection and the appraisal. When something comes up, you get one answer, not two people guessing at each other's half.
You can still use any lender you like. Our first-time buyer guide covers the home search side. City pages like first-time buyers in Sacramento and first-time buyers in Elk Grove go deeper on local homes and prices.
How do you start as a first-time buyer?
Before you apply, pull your free credit reports and look for errors. Then write down the monthly payment that feels comfortable to you, not only the most a lender might approve. Those two steps make the first conversation far more useful.
Fill out the loan options form and choose "Buying a home," or call Maggie's cell at (916) 549-3131. Have recent pay stubs, two years of W-2s or tax returns, and recent bank statements ready. You can also send us a note if you'd rather start with questions.
Frequently Asked Questions
Does California have down payment help for first-time buyers?
Yes. CalHFA runs statewide programs, including the MyHome Assistance Program. CalHFA's page describes it as a deferred-payment junior loan of up to 3.5% with FHA or 3% with conventional. Income limits, price limits and funding apply.
Do I need a homebuyer course for CalHFA?
Yes. CalHFA accepts the eHome eight-hour online course, or live in-person or virtual education through NeighborWorks America or a HUD-approved housing counseling agency.
Is an FHA loan the only option for a first home?
No. First-time buyers can also use conventional and VA loans. CalHFA lists FHA, VA, USDA and conventional first mortgage programs. The right fit depends on your cash, your credit and the home.
What costs should I plan for besides the down payment?
Plan for closing costs, prepaid property tax and insurance, moving costs and a cushion for early repairs. In California, a supplemental property tax bill can also arrive after a purchase.
Can I use any lender I want?
Yes. You're always free to choose your own lender. We'd like the chance to quote your loan so you can compare it against anyone.
When should I talk to a mortgage broker?
Talk to one before you start touring homes. An early review shows what you can afford, catches credit or document issues while there's time and makes your offers stronger.
Talk to Maggie directly: cell (916) 549-3131 (text or call) · maggie@loveyoursurroundings.coMaggie B. Hopkins, NMLS #349517 · Surroundings NMLS #2528307
Loans are arranged through Maggie B. Hopkins, NMLS #349517 · Surroundings NMLS #2528307. This is not a commitment to lend. All loans subject to credit approval and property qualification. Equal Housing Lender.
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