First-Time Homebuyer Calculator
Check state down payment assistance eligibility for first-time buyers and estimate the assistance and remaining loan.
By Konstantin Iakovlev · Updated September 2026 · Source: CFPB — Owning a Home
Eligible
Yes
DPA Amount
$20,000.00
Program Details
| Program | CalHFA Dream |
| Income Limit | $180,000.00 |
| Down Payment Assistance | $20,000.00 |
| Estimated Loan | $380,000.00 |
Use the First-Time Homebuyer Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
How It Works
Down payment assistance can decide whether a first purchase works, and most programs limit who qualifies by income. This calculator checks your income against one assistance program for the state you pick and estimates how much help you might get and the loan that is left.
The calculator stores one program, one income limit and one assistance cap for each of eight states: CA, TX, FL, NY, IL, CO, WA and GA. If your annual income is at or below that limit, it estimates assistance as the smaller of the cap and 5% of the purchase price; above the limit it shows none. The estimated loan is the purchase price minus the assistance, as if the assistance were your whole down payment. It does not look at your debts, credit or household size. Real programs vary more: CalHFA's 2026 income limits for its loans run by county from $192,000 to $325,000, and Colorado's CHFA grant is the lesser of $25,000 or 3% of the first mortgage, so treat the result as a prompt to read the agency's current terms, not as a quote.
Closing costs and the steady drip of upkeep tend to slip off the radar for first-time buyers, yet both belong in any honest budget. Fixating on the monthly mortgage payment alone hides the larger truth that homeownership is a far broader financial commitment than that single line item suggests.
Example: Checking Assistance in California
- 1 Input: State = CA, Annual Income = $80,000, Purchase Price = $400,000 (the calculator's defaults).
- 2 Eligibility: the calculator's CA entry, labeled CalHFA Dream, has an income limit of $180,000; $80,000 is below it, so Eligible shows Yes.
- 3 Assistance: the smaller of the $20,000 cap and 5% of the price ($400,000 × 0.05 = $20,000) is $20,000. Estimated loan: $400,000 − $20,000 = $380,000.
- 4 Check before relying on it: CalHFA publishes its own 2026 income limits by county ($192,000 to $325,000 for its first and subordinate mortgages, excluding Dream For All), and each assistance program sets its own amount. Confirm the program, the limit and the amount with the agency or one of its approved lenders.
Source: CFPB — Owning a Home · Last updated: September 2026
Frequently Asked Questions
How much do I need for a down payment as a first-time buyer?
What are closing costs for first-time homebuyers?
What first-time homebuyer programs are available?
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