First-Time Homebuyer / DPA Loans
Make your first home purchase in California easier with specialized loan programs and down payment assistance designed for first-time buyers. Based in Glendale and serving Burbank and surrounding areas, Corbett Uzel helps you navigate options and secure financing that fits your goals, so you can confidently step into California homeownership.
First-Time Homebuyer / DPA Loans
What Are First-Time Homebuyer / DPA Loans?
First-Time Homebuyer and Down Payment Assistance (DPA) Loans help make homeownership more accessible by offering financial aid for down payments and closing costs. These programs are designed for new buyers who need extra support in affording a home and often come in the form of grants, second mortgages, or forgivable loans.
Who Can Benefit from a First-Time Homebuyer / DPA Loan?
These programs are ideal for first-time buyers, individuals who haven’t owned a home in the past three years, and those with limited savings. Many DPA programs also cater to teachers, healthcare workers, and public service employees. If you’re struggling to afford a down payment but have steady income and credit, a DPA loan may be a great option.
How Do First-Time Homebuyer / DPA Loans Work?
DPA programs provide financial assistance through grants or low-interest second mortgages that cover down payments and closing costs. Some programs require repayment, while others are forgivable after a set number of years. Eligibility typically depends on income, credit score, and property location.
Types of Loans That Qualify for DPA Assistance
DPA funds can often be used with popular mortgage loan programs. FHA loans allow down payments as low as 3.5 percent, making them a great option for first-time buyers. VA loans provide zero down payment options for eligible veterans and active-duty military members. USDA loans offer 100 percent financing for homes in designated rural areas. Conventional loans, such as Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs, allow as little as 3 percent down.
What Are the Benefits of a First-Time Homebuyer / DPA Loan?
These programs reduce upfront costs, making homeownership more accessible. Some offer forgivable assistance, meaning you won’t have to repay the funds if you meet residency requirements. Others provide flexible credit requirements and lower interest rates than traditional loans. By lowering the financial barriers to homeownership, DPA loans help buyers purchase a home sooner.
Is a First-Time Homebuyer / DPA Loan Right for You?
If saving for a down payment is the biggest obstacle to buying a home, a DPA loan can provide the financial help you need. These programs are designed to assist qualified buyers with securing a home loan while keeping upfront costs low. If you’re unsure whether you qualify, speaking with a mortgage expert can help determine the best solution for your situation.
Why Choose Us for Your First-Time Homebuyer / DPA Loan?
We specialize in helping first-time buyers navigate the home loan process and secure the best down payment assistance programs available. Our team works with a variety of lenders and housing agencies to match buyers with financing options that fit their needs.
From pre-qualification to closing, we guide you every step of the way. Our goal is to make homeownership possible by providing expert advice, personalized loan solutions, and seamless application support.
With access to a wide range of down payment assistance programs, competitive mortgage rates, and flexible financing options, we make buying your first home easier than ever. Contact us today to get started!
First-time buyer and down payment assistance FAQs
Plan for the upfront costs of a California home and understand the terms attached to assistance. Corbett can help you identify what needs to be checked before you rely on a program.
Is a first-time buyer mortgage a single loan program?
No. A first-time buyer might use conventional, FHA, VA or USDA financing if eligible. Assistance programs may be paired with a permitted first mortgage. Start with the payment you can sustain and then compare the loan and assistance combinations available for the property.
Is down payment assistance money I never repay?
Not always. It can be a grant, a deferred or repayable second loan, or another structure with conditions. Ask what triggers repayment, whether interest accrues and what happens if you sell or refinance. Do not treat “no monthly payment” as the same as “no debt.”
What does CalHFA's MyHome program provide?
MyHome is a deferred-payment junior loan used with eligible CalHFA financing to help with down payment or closing costs. It has borrower and property requirements, including income limits and homebuyer education. Confirm current availability and approved-lender access; a program’s existence does not mean every lender or applicant can use it.
Can I use assistance if I owned a home before?
The answer depends on the program’s definition of first-time buyer and any exceptions. Some programs look at a specified period without ownership of a principal residence. Share your ownership history with Corbett rather than assuming either eligibility or ineligibility.
Do Burbank and Glendale have the same assistance rules?
Do not assume so. Local programs can have different geographic, income, occupancy, funding and application requirements. Check the relevant housing agency’s current information for the property address. An old listing or a nearby city’s program does not establish that funds are available to you.
Can assistance cover every expense at closing?
It depends on the program limits, allowed uses and your transaction. You may still need your own funds for deposits, appraisal charges, reserves or other costs. Ask for an itemized cash-to-close calculation and confirmation of when assistance funds are available.
What should I ask before selecting an assistance offer?
Request the first-mortgage rate and costs, the assistance agreement, any second-loan payment and the repayment triggers. Compare the combined cost with buying without assistance. Corbett can help you identify the tradeoffs; qualification and funding must be confirmed before you rely on an award.
Information checked September 7, 2026. Further reading: CalHFA: MyHome assistance · CFPB: loan choices · CFPB: Loan Estimates.