Who this may fit
Down payment assistance may help eligible buyers with down payment or closing costs. It is usually paired with a qualifying first mortgage rather than replacing one. California state and local options can have different borrower, property, education, and funding requirements. Ask about current availability and participating-lender access.
Preparation checklist
- Household income, homeownership history, and proposed purchase location
- Savings and the estimated cash needed to close
- Any required homebuyer education and details of the first mortgage
How to compare this option
Assistance is not always a grant. It can be a repayable or deferred-payment second loan, a forgivable loan with conditions, or a shared-appreciation arrangement. Review interest, repayment triggers, occupancy requirements, resale restrictions, and the total cost of the first mortgage plus assistance.
Sharing documents safely
Use the preparation checklist above. Use the secure application portal for financial documents; please do not send statements or tax returns through the general inquiry form.
Frequently asked questions
Do I have to be a first-time buyer?
Many programs require it, but definitions and exceptions vary. Household income limits, purchase price limits, and occupancy requirements also need review.
Does deferred mean forgiven?
No. Deferred payments postpone repayment. A balance may become due when you sell, refinance, pay off the first mortgage, or stop occupying the home, depending on the agreement.
Can I combine multiple assistance programs?
Sometimes. Each assistance provider and the first-mortgage lender must allow the combination. Layering can affect lien priority, cash requirements, and timing.
Is funding guaranteed?
No. Funds, reservations, and program rules can change. Do not assume an advertised program is open or that IMS participates in every program. Confirm before relying on it for an offer.
How should I compare assistance with buying without it?
Request side-by-side cash-to-close, monthly payment, fees, and future repayment amounts. Less cash upfront can come with a higher first-mortgage rate or another repayment obligation.
Sources & further reading
Educational review: October 30, 2026. Guidelines and availability can change. Lender examples explain product structures and do not establish IMS availability or quoted terms.
Program availability, fees, and qualification requirements vary by lender, property, location, and borrower. These guides are educational, not an offer, quote, eligibility decision, or commitment to lend.