Loan Comparison
This comparison confuses buyers because the two are not strictly either-or. CalHFA is a California state program that layers down payment and closing cost assistance onto an underlying FHA or conventional first mortgage. Understanding what CalHFA adds — and what it requires in return — is the key to using it well.
| CalHFA Loan | FHA Loan | |
|---|---|---|
| What it is | California state program with assistance layered on a first mortgage | Federally insured first mortgage |
| Down payment help | Yes — deferred assistance toward down payment and closing costs | None included |
| Income limits | Yes — county-based limits apply | None |
| Homebuyer education | Required | Not required |
| First-time buyer requirement | Generally yes | No |
| Property location | California only | Nationwide |
| Best for | Income-qualified California first-time buyers short on cash | Any buyer with 3.5% down available |
If you are a first-time buyer in California, under the county income limit, and short on down payment cash, CalHFA assistance layered over an FHA first mortgage can get you into a home years sooner. If you already have your down payment or exceed the income limits, a straight FHA or conventional loan is simpler and closes faster. As a California lender headquartered in Placer County, we run both structures side by side.
Still Deciding?
We'll price both programs with your actual numbers and show you the payment, cash to close, and long-term cost side by side — no credit pull required.
Questions
Yes — that is the most common structure. CalHFA assistance sits behind an FHA or conventional first mortgage to cover down payment and closing costs, so the two programs work together rather than competing.
Assistance is typically structured as a deferred second that is repaid when you sell or refinance, not through monthly payments. Terms vary by program, and we review the exact repayment structure with you before you commit.
Limits are set by county and updated periodically, and they are higher in high-cost counties. We check your household income against the current limit for your target county before you shop.
About Us
CDL Mortgage Services Inc. is an independent, full-service mortgage company. Instead of pushing one bank’s products, we shop multiple wholesale lenders to secure the best loan at the best rate for every borrower.
Purchase, refinance, and home equity — all under one roof, focused on the best loans at the best rates.
Based at 6524 Lonetree Blvd, Rocklin, CA 95765 and licensed in California, Texas, Georgia, Tennessee, Oklahoma & Idaho.
Every file is handled start-to-finish by a licensed loan officer who knows your name and your goals.
Fully licensed and regulated, with award-winning lender partnerships and 35+ years serving borrowers.
Ready When You Are
One application, multiple wholesale lenders, and a licensed loan officer who explains the tradeoffs before you commit.