First-Time Homebuyer Programs in Fremont, Newark, Union City & Hayward
By Bilal Salimi, Broker DRE# 01480904 · NMLS# 300923 · Program status checked October 28, 2026
Open now (as of October 28, 2026)
Newark Down Payment Assistance Loan (DPAL)
Up to $200,000 (household income at or below 100% AMI) or $150,000 (at or below 120% AMI), for a home in Newark. Deferred 30-year loan at 3% simple interest; at repayment you owe the principal plus the greater of the interest or a share of appreciation. Covers the down payment only (not closing costs); no minimum buyer down payment is required. Assets up to $225,000 at application, with no more than $60,000 kept after purchase. Can be used on Newark BMR homes. Mandatory workshop Jan 20, 2027; 120 days to shop after approval. Priority for people who live or work in Newark.
Hayward BMR condos at SoMi
13 new below-market-rate condos at 29212 Mission Blvd for moderate-income buyers: 2-bedroom $421,183, 3-bedroom $448,164–$473,509, HOA about $688–$719/month. Resale is restricted permanently. Processed by entry time stamp.
CalHFA MyHome Assistance
A deferred junior loan of up to 3.5% of the price with a CalHFA FHA loan, or 3% with CalHFA conventional, VA or USDA. No payments until you sell, refinance or pay off the first loan. First-time buyers only; Alameda County income limit $322,000; no sales price limit.
CalHFA Zero Interest Program (ZIP)
2% or 3% of the loan amount at 0% interest for closing costs only, paired with a CalPLUS first mortgage. Deferred until you sell, refinance or pay off.
Housing Trust Silicon Valley Home Access
Up to 40% of the price, maximum $200,000, as a 30-year deferred loan at 3% simple interest. For first-time buyers at or below 80% AMI (Alameda: about $95,050 for 1 person to $135,750 for 4). You contribute at least 3% plus 2% for closing costs; the first mortgage is capped at 80% of value and debt-to-income at 40%/45%. Don't make an offer before you have their eligibility letter.
GSFA Platinum
Up to 5.5% for down payment or closing costs, as a repayable or deferred second loan depending on the option. Not limited to first-time buyers; credit scores from 640. The first mortgage can't exceed $832,750, so it doesn't work with high-balance loans.
WISH matching grants
Matching grants of $4 for every $1 you save, up to $32,837, for first-time buyers at or below 80% AMI. Available only through participating FHLBank San Francisco member banks and credit unions.
Closed for now: get notified when they reopen
CalHFA California Dream For All
Up to 20% of the price, capped at $150,000, awarded by random drawing. All buyers must be first-time buyers and at least one must be first-generation (no home ownership in the last 7 years, and parents don't own a U.S. home, or the buyer was in foster care). When you sell or refinance, you repay the amount plus a share of the home's appreciation: 20% (15% if your income is at or below 80% AMI), capped at 2.5 times the loan. Alameda County income limit: $257,000. Requires a CalHFA lender, 8-hour homebuyer education and a 1-hour Dream For All course. Winners get a 90-day voucher to get into contract.
AC Boost (Alameda County)
A shared appreciation loan up to $210,000 (at or below 100% AMI) or $160,000 (at or below 120% AMI) for people who live or work in Alameda County.
Fremont BMR (Below Market Price) homes
When a home is listed, the City notifies its interest list. Buyers need a 660+ credit score, 3% of their own funds down, a debt-to-income ratio of 35% to 45% depending on income tier, assets under $250,000, and a homebuyer workshop. You must use your own agent (dual agency isn't allowed). Resale restrictions typically last 30–50 years and restart with each sale. No renting, no home equity loans, and refinancing needs City approval.
Union City BMR homes
Owner-occupancy is required, an 8-hour homebuyer workshop is required, and refinancing is limited (all debt must stay at or below the current maximum resale price, at a lower rate).
Get an alert when Dream For All, AC Boost or a BMR home opens
Which programs might fit you?
Answer a few questions for a quick, unofficial match against the programs above. Final eligibility is always decided by the program and lender.
Uses 2026 Alameda County income limits (State HCD, effective May 26, 2026) and program limits as published on October 28, 2026. Income definitions differ by program; this is a starting point, not a determination.
Low down payment loans
| Loan | Minimum down | Credit score | Income limit | Notes |
|---|---|---|---|---|
| FHA | 3.5% | 580+ (500–579 with 10% down) | No | Mortgage insurance for the life of most loans; Alameda 2026 limit $1,249,125 |
| Fannie Mae HomeReady | 3% | Varies; automated approval | Income at or below 80% AMI | Reduced mortgage insurance; not limited to first-time buyers |
| Freddie Mac Home Possible | 3% | Automated approval; 660+ if manually underwritten | Income at or below 80% AMI | Down payment can come from gifts or approved assistance |
| Conventional 97 / HomeOne | 3% | Varies by lender | No income limit | At least one first-time buyer; not available on high-balance loans (over $832,750) |
| CalHFA FHA / Conventional | 3%–3.5% (can pair with MyHome) | 640–700 depending on loan and debt ratio | Income at or below $322,000 (Alameda) | First-time buyer; homebuyer education required |
| VA | 0% | Varies by lender | No | For eligible veterans and service members; no monthly mortgage insurance |
2026 loan limits for Alameda County: $1,249,125 for a one-unit home (FHA and conforming). Loans above $832,750 are high-balance, which rules out some 3%-down options and GSFA Platinum. Try the payment calculator to see your loan type.
How BMR homes work
- Price: set by a formula tied to income limits, not the market, so it's often hundreds of thousands below nearby homes.
- Resale: capped by formula when you sell, usually to another income-qualified buyer. Restrictions last decades or permanently (Hayward's newer BMRs are permanent), so long-term appreciation is limited.
- Living there: you must live in the home (typically 10+ months a year). No renting it out.
- Refinancing: needs City approval; cash-out and home equity loans are generally not allowed.
- How to get one: join each city's interest list, take an 8-hour homebuyer class, get pre-approved, and enter the lottery or drawing when a home is listed. In Fremont, your own agent submits the application to the listing agent.
Getting ready (do these now)
- Take an 8-hour homebuyer education course. Most programs require it. CalHFA accepts eHome online or a HUD-approved counselor.
- Get pre-approved with a lender who can compare FHA, conventional and CalHFA options.
- Join interest lists for Fremont, Union City and Hayward BMR homes, and sign up for alerts above.
- Save and document your funds. Many programs require 3% from your own savings, held for a few months.
- Watch the deadlines: Hayward SoMi entries by Nov 17, 2026; Newark DPAL pre-applications by Jan 8, 2027.
How I help
As a real estate broker and mortgage broker, I help first-time buyers compare low-down-payment loans and assistance programs side by side, get the paperwork ready before a lottery opens, and arrange CalHFA loans, including MyHome and ZIP down payment and closing cost help, directly through SI MTG. On BMR purchases, I represent buyers as their own agent, as cities like Fremont require.
Frequently asked questions
What first-time homebuyer programs are available in Fremont, Newark, Union City and Hayward?
As of October 28, 2026: Newark's new down payment loan (up to $200,000, pre-applications through Jan 8, 2027), Hayward's SoMi BMR condos (entry deadline Nov 17, 2026), CalHFA MyHome and ZIP, Housing Trust Silicon Valley's Home Access loan, GSFA Platinum, and WISH grants through participating banks. CalHFA Dream For All and AC Boost are closed until a new round opens.
How does CalHFA Dream For All work?
It provides up to 20% of the purchase price, capped at $150,000, for first-time, first-generation buyers selected by random drawing. When you sell or refinance, you repay the amount plus 20% of the appreciation (15% for lower-income buyers), capped at 2.5 times the loan. The 2026 window closed March 16, 2026.
What is a BMR home?
A below-market-rate (BMR) home is sold at a price affordable to low- or moderate-income buyers in exchange for long-term restrictions: you must live in it, the resale price is capped by a formula, and refinancing needs City approval. Fremont, Newark, Union City and Hayward each run their own BMR program.
Who counts as a first-time homebuyer?
For most programs, someone who hasn't owned a home in the past 3 years. CalHFA also counts you as an owner if you lived in a home your spouse owned during that time. Dream For All also requires at least one buyer to be first-generation. Each program defines it in its own guidelines.
How much do I need for a down payment as a first-time buyer?
As little as 3% with HomeReady, Home Possible or conventional 97 loans, 3.5% with FHA, or 0% with VA. Assistance programs like CalHFA MyHome can cover part of the down payment, and ZIP can cover closing costs.
Is there a federal first-time homebuyer tax credit?
No. Bills have been introduced in Congress, but none has been enacted as of October 2026. You can withdraw up to $10,000 from an IRA for a first home without the 10% early-withdrawal penalty (income tax may still apply).
Program information is general and was checked on October 28, 2026. Programs change, open and close; funding is limited; and eligibility is determined only by each program administrator and lender. Shared-appreciation loans (Dream For All, AC Boost, Newark DPAL) can require repaying more than you borrowed if the home's value rises. Visionary Estates · Bilal Salimi, Broker DRE# 01480904 · NMLS# 300923 (SI MTG, the mortgage division of Salimi Investments; a broker, not a lender) · (510) 786-8739