State of California is offering Calhfa for first time buyers. This program gives buyers 3% towards their down payment to purchase a home. It is to start next week so all the kinks haven't been worked out. There is a minimum income and a maximum income but it is wonderful program for the folks who can use it. Buyers have to apply for the loan thought what they call PREFERRED lenders.

Here is the press release telling that it is coming.

 http://www.calhfa.ca.gov/about/publications/press-releases/2009/pr2009-09.pdf

Here is the site where you can find out some of the limits. Each county is different so make sure to search within your county to determine the correct limits.

http://www.calhfa.ca.gov/homebuyer/information/borrower-requirements.htm 

We all have buyers who might benefit by this. So lets go sell some houses.