Zero-Down & Low-Down Payment Programs for First-Time Buyers in Riverside & Orange County (2026 Guide)

Think You Need 20% Down? Think Again.

One of the biggest myths about buying a home is that you need a 20% down payment.

The truth is, many first-time buyers in Riverside County and Orange County purchase a home with far less—and some qualified buyers can even buy with zero down.

If you've been waiting years to save 20%, these programs could help you become a homeowner much sooner.

FHA Loans: Buy with as Little as 3.5% Down

FHA loans remain one of the most popular financing options for first-time buyers.

With a qualifying credit score, buyers may purchase a home with as little as 3.5% down.

For 2026, FHA loan limits are:

• Riverside County: Up to $690,000
• Orange County: Up to $1,249,125

That higher limit in Orange County reflects the area's higher home prices and provides buyers with greater purchasing power.

VA Loans: True Zero Down

If you're an eligible veteran, active-duty service member, or qualifying surviving spouse, a VA loan may allow you to purchase a home with:

• 0% down payment
• No monthly private mortgage insurance (PMI)
• Competitive interest rates

This is an excellent option for military families in our area, especially with the proximity of March Air Reserve Base in Riverside County.

California Down Payment Assistance Programs

Beyond FHA and VA financing, California offers several programs that can help cover your down payment or closing costs.

Some of the most common include:

• CalHFA MyHome – Deferred-payment assistance for qualified buyers.
• GSFA Platinum – Assistance with down payment and closing costs.
• PLHA (Permanent Local Housing Allocation) – County-based assistance programs that may provide up to 20% of the purchase price for eligible buyers.

These programs can significantly reduce the amount of cash needed to purchase a home. Availability and qualification requirements vary, so it's important to review current guidelines with your lender.

What About Dream For All?

California's popular Dream For All program continues to generate a lot of interest.

However, the 2026 application window closed on March 16, and participants were selected through a lottery system.

If you missed this year's opportunity, it's still worth preparing now so you're ready if another funding round becomes available.

Can You Combine These Programs?

In many cases, yes.

Programs like CalHFA MyHome, GSFA Platinum, and PLHA can often be combined with eligible FHA or VA loans, helping qualified buyers reduce their upfront costs even further.

Your lender can help determine which programs can be layered together based on your financial situation.

Final Thoughts

Buying your first home may be more achievable than you think.

Whether you're considering an FHA loan, qualify for a VA loan, or are exploring California's down payment assistance programs, there are more options available today than many buyers realize.

The key is understanding which programs fit your goals and financial situation.

If you're planning to buy a home in Corona, Riverside County, or Orange County, I'd be happy to connect you with trusted lending professionals and help you navigate the home-buying process from start to finish.

Contact Diana Renee Homes today to learn which first-time buyer programs may help you get into a home sooner than you expected.