Buying a home is probably the biggest financial transaction you'll ever make. It is advantageous to get Pre-Approved as soon as possible. Before you start looking for a home, contact a local lender in order to get Pre-Qualified and get a loan commitment. Loans and gifts can help with your down payment but you can not use this strategy for all loan programs. The most popular program for this tactic is the Federal Housing Administration or FHA. FHA allows 100% gift funds for your down payment. The gift can be from any relative or can be collected through new innovative programs, like the Bridal Registry where couples receive money into an account that can be used for the down payment. Another popular tactic, which can be used in a wider range of programs, is to borrow from your 401K program. If you have a 401K program with your employer, you can withdraw without a penalty for your down payment and pay it back over a specified period. You also need to know what type of loan you need, the interest rate and how the closing cost are determined. You will find this information Rates and Cost extremely helpful.

The Fannie Mae Foundation offers several free guides and resources to help you buy a home, from determining what you can afford and how to find a mortgage lender, to understanding how to stay afloat financially before and after you've moved in.

There are also programs that the State of California provides: HOMEBUYER ASSISTANCE

Programs available from Alameda County: Community Development Agency

Home Buyer Assistance available for Alameda/Contra Costa Counties: NHBP Assistance

The The AmeriDream Downpayment Gift Program provides down payment assistance of up to five percent or more of a home's price.

More than 164,000 families now own homes, thanks to The Nehemiah Program^ฎ. 
Gift money of 1% to 6% of the contract sales price or a flat Gift amount (not to exceed 6% of the contract sales price) towards down payment and closing costs with no repayment.

Housing Action Resource Trust -Assisting homeowners and first time home buyers with gift funds to cover initial home purchase expenses.

GiftAmerica - National non-profit offers down payment assistance to home buyers. Includes programs, guidelines, and application.

Genesis Program - Offers home buyers free grant money to purchase a home.

BuyersGrant, Inc. - Down payment assistance grant programs for homebuyers.

Futures - Downpayment Gift Program - A program which provides cash gifts to homebuyers to offset down payments for the purchase of a home.

Responsible Home Ownership, Inc. Offers a down payment assistance program for qualifying buyers and eligible homes.

Home Buyer Gift Charity, Inc.  A public nonprofit charity designed to provide down payment gift funds to homebuyers.

•California Home Source – Provides information about the lease-purchase home ownership program.

•Home Buyer Assistance Center (HBAC) - Oakland based nonprofit that conducts workshops and offers counseling services to first-time homebuyers in the Bay Area.

•Unity Council HomeOwnership Center – Provides first-time home ownership opportunities and educational seminars and workshops for lower income residents of Alameda County.

•Eden I & R - Referral services for low cost housing and other social services in Alameda County.