California Housing Finance Agency (CalHFA) CalPLUS Conventional with Zero Interest Program (ZIP)

Maximum Amount

3% of Total Loan Amount


  • Competitive rates.
  • Borrowers with income less than or equal to HomeReady’s 80% Area Median Income (AMI) LI income limits are eligible for discounted Mortgage Insurance (MI) coverage and MI rates.
  • Deferred payment, zero interest rate, long term subordinate mortgage.
  • Guest houses, granny units and in-law quarters are eligible for financing under certain conditions.
  • No borrower minimum contribution required.
  • No purchase price limits.
  • Fannie Mae Homestyle Energy is allowed.
  • Borrowers who own or have owned rental properties may be a first-time homebuyer they can document that they have not occupied any of the rental properties as their principal residence at any time within the past three years.

Participating Lenders

Approved Education Providers

  • Homebuyer education and counseling is required for one occupying first-time homebuyer.
  • Certificates are good for one-year.
  • Homebuyer education and counseling is not required for non-first-time homebuyer
  • In-Person or Virtual Homebuyer Education through NeighborWorks America or through one of the HUD approved Housing Counseling Agencies

Program Provider Contact

Single Family Lending
p: 916.326.8033

Customer Service / Loan Production /Lender Training
p: 916.326.8033

Secondary Marketing
p: 916.326.8824

Mortgage Access System (MAS)