Affordable Housing

Whether you’re an expert in affordable housing or are trying to expand your business in this area, Mountain West Financial is the partner you need. We know and understand these programs and support you and your borrowers with a knowledgeable operations team to ensure a smooth and timely closing.


CalHFA provides low interest rate home financing to low to moderate income homebuyers in California, as well as down payment and closing cost assistance.

CalPLUS with Zip

For first-time homebuyers looking for a fixed rate mortgage with closing cost assistance combined into one perfect package, CalPLUS with ZIP is a great option!


  • Conventional & FHA Options
    • 97% LTV Conventional 1st mortgage loan
    • 96.5% LTV FHA 1st mortgage loan
  • Fixed interest rate, 30-year term
  • Can be combined with MyHOME program or STEAP program


  • Choice of 2% or 3% of the total loan amount
  • Zero interest
  • Deferred payment (until maturity of first mortgage loan, refinance, or property transfer)

More CalHFA Programs

MyHome Down Payment Assistance

Up to 3.5% of the sales price or appraised value of the property, whichever is less, for down payment assistance

School Teacher and Employee Assistance Program (STEAP)

California K-12 school employees can receive up to 4% of the home’s sales price or appraised value (whichever is less) that can be used for down payment and closing costs

  • STEAP will be in 2nd lien position if layered with CalPLUS and ZIP
  • May not be combined with MyHome
  • Generous Income Limits
  • Available to First-Time Homebuyers Exclusively

Good Neighbor Next Door Program

With the Good Neighbor Next Door Sales Program, pre-Kindergarten through 12th grade teachers, firefighters, emergency medical technician (EMTs), and police officers can contribute to community revitalization while receiving 50% off the list price of the home!

  • Full-time, pre-Kindergarten through 12th grade teachers, firefighters, emergency medical technician (EMTs), and police officers
  • Commit to live in the property as your sole residence for 3 years.
  • Eligible single family homes located within revitalization areas as listed by state (see

Mortgage Credit Certificate

Allows first time homebuyers to claim a tax credit for a portion of the mortgage interest and qualifies for monthly savings in housing ratios

GSFA Platinum

The program is designed to increase homeownership opportunities for low-to-moderate income individuals and families in California. Down Payment Assistance (DPA) is available in the form of a grant.

  • Program Overview
  • Grant of 3%, 4% or 5% of the 1st mortgage amount, that requires no repayment
  • For down payment and/or closing costs
  • Minimum 640 FICO score
  • Available for FHA and Conventional 1st loans
  • Up to¬† 45% Max DTI for FHA & Conventional regardless of LPA or DU findings
  • Up to 2% Borrower Paid Origination + $900 Processing

Community Seconds

A Community Second may be funded by a state, county, nonprofit organization, or an employer, and is typically used for help with down payment and/or closing costs.

  • Program Overview
  • We proudly offer and support over 65 down payment assistance and affordable housing programs