The 4 Loan Programs San Diego First-Time Buyers Actually Use (and How to Stack DPA on Top)
Each program has different credit requirements, down payment minimums, and DPA compatibility. This guide breaks them down so you can find your best fit — then stack free money on top.
Compare Loan Programs at a Glance
| Loan Type | Min Down Payment | Min Credit Score | SD Loan Limit | Best For |
|---|---|---|---|---|
| FHA Loan | 3.5% | 580 (3.5% down) 500 (10% down) | $1,077,550 | Buyers with lower credit scores or smaller savings |
| VA Loan | 0% | No VA minimum (lenders typically want 620+) | No limit with full entitlement | Veterans, active-duty, and eligible surviving spouses |
| Conventional Loan | 3% | 620+ | $1,104,000 (conforming) | Buyers with strong credit who want to avoid FHA mortgage insurance |
| CalHFA Programs | Varies (often 3%–3.5%) | 660+ (program dependent) | Varies by program | First-time buyers who need down payment or closing cost help |
All figures are estimates only. Contact a licensed loan officer for current program details and eligibility.
Explore Each Loan Program
FHA Loans
Backed by the Federal Housing Administration, FHA loans let you buy with as little as 3.5% down and a credit score starting at 580. San Diego's 2026 FHA loan limit of $1,077,550 covers most of the local market.
Learn about FHA loans →VA Loans
Available to veterans, active-duty service members, and eligible surviving spouses, VA loans offer zero down payment and no private mortgage insurance. San Diego is the number one VA loan county in the country.
Learn about VA loans →Conventional Loans
Conventional loans are not government-backed, which means fewer restrictions on property type and loan terms. With 20% down, you skip private mortgage insurance entirely. Conforming limits in San Diego reach $1,104,000.
Learn about conventional loans →CalHFA Programs
California Housing Finance Agency programs provide down payment assistance and affordable first mortgages for first-time buyers. Programs like Dream For All can offer up to $150,000 in assistance.
Learn about CalHFA programs →How to Choose the Right Loan Program
The best loan program depends on your personal financial situation. Here are a few questions to guide your decision:
- Are you a veteran or active-duty service member? A VA loan is almost always your best option thanks to zero down payment and no PMI.
- Is your credit score below 620? FHA loans are more flexible on credit than conventional loans.
- Do you have 20% saved for a down payment? A conventional loan lets you avoid mortgage insurance entirely.
- Do you need help with your down payment? CalHFA programs and San Diego Housing Commission grants can be layered on top of FHA or conventional loans.
You don't have to figure this out alone. A local loan officer can review your finances and recommend the program that saves you the most money over the life of the loan.