Affordable Housing

At Mountain West Financial, Inc. (MWF), we are known for the many Down Payment Assistance and affordable housing programs we offer and are considered experts in this area.  Participating in over 80 affordable housing programs for low-to moderate, first-time homebuyers has been a passion for us over the years. 


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 on up to 20-year term
  • Can also be combined with MyHOME program or STEAP and Mortgage Credit Certificate Program


  • Choice of 3% or 4% 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.

  • 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 50% MAX DTI for Conventional & 45% Max DTI for FHA
  • 2% Borrower Paid Origination + $900 Processing