First-Time Homebuyer Guide: Los Angeles 2026

Los Angeles skyline with housing affordability data overlay showing median prices, DPA programs, and neighborhood price ranges for first-time homebuyers

Quick Answer

You can buy your first home in Los Angeles with as little as $35,000 out of pocket — if you use the right down payment assistance programs. LA County median is ~$900K, but condos start around $650K and DPA programs cover up to $161,000.

The 3 numbers that matter:

Up to $161,000 in DPA from the City of LA's LIPA program (or $150K from Dream For All)
$1,249,125 conforming loan limit — no jumbo loan needed for most LA homes
Dream For All 2026 window: February 24 – March 16 (lottery-based, 3 weeks only)

Run your LA numbers with the California Mortgage Calculator →

Key Takeaways

LA County median: ~$891K–$942K, but condos start around $650K–$722K
Down payment assistance up to $161K (LIPA) or $150K (Dream For All) — programs can be stacked
Conforming loan limit: $1,249,125 — no jumbo needed for most LA homes
Budget $150–$400/month for insurance (more in fire zones after the January 2025 fires)
Dream For All 2026 applications: February 24 – March 16
City of LA vs. LA County: Which programs you get depends on which side of the line you buy
Market favors buyers: 56–61 days on market, 2.8–2.9 months supply, price growth slowed to 1–4%
FHA trap at LA prices: Permanent MIP costs ~$585/mo on $900K — conventional may save you more

Buying your first home in Los Angeles feels overwhelming. Median prices hover near $900,000, mortgage rates sit in the low 6% range, and you’ve probably heard horror stories about bidding wars and insurance chaos.

Here’s the thing:

2026 is actually one of the better windows for first-time buyers in recent LA history.

Price growth has slowed to 1–4%. Inventory is up. Homes are sitting on the market nearly two months — giving you actual time to think. And there’s more down payment assistance money available than ever, including up to $161,000 from the City of LA and up to $150,000 from California’s Dream For All program.

This guide covers everything you need to buy your first home in Los Angeles — real numbers, real programs, and real scenarios you can plug into our California Mortgage Calculator to see exactly what you can afford.

By the Numbers

7+ DPA programs available to LA buyers (city, county, state)
$35,000–$60,000 realistic out-of-pocket range with DPA
$1,249,125 conforming loan limit — highest in the nation
56–61 days average time on market (double the 2022 pace)
$650K–$942K median price range (condos to single-family)

The LA Housing Market in 2026: What First-Time Buyers Need to Know

Before you start shopping, you need to understand what you’re walking into.

Metric	LA County (2026)
Median home price	$891,000–$942,000
City of LA median	~$975,000–$1,000,000
Condos/townhomes	~$650,000–$722,000
Days on market	56–61 days
Inventory	2.8–2.9 months of supply
Mortgage rate (30-yr fixed)	~6.09%–6.15%
Price forecast (2026)	+1% to +4%

Sources: C.A.R., Redfin, Freddie Mac (Jan–Feb 2026)

So what does this mean for you?

The market is stabilizing. You’re not competing against 15 offers on every house like 2021–2022. Homes are taking nearly two months to sell, which means sellers are more willing to negotiate. And while prices aren’t dropping significantly, the days of 10%+ annual appreciation are behind us (at least for now).

Here’s the kicker:

Mortgage rates are expected to potentially dip below 6% by late 2026. If that happens, demand will increase. Buying before that rate drop — and refinancing later — could be a smart play.

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Pro Tip: The 2026 LA market favors prepared first-time buyers more than any year since 2019. The key word is prepared — you need pre-approval, DPA applications, and homebuyer education done before you start shopping.

How Much Do You Actually Need to Buy a Home in LA?

This is the question everyone asks first. And the answer depends on three things: your down payment, your closing costs, and your cash reserves.

Let’s break each one down.

Down Payment

You do NOT need 20% down. That’s one of the most persistent myths in real estate.

Loan Type	Minimum Down	On a $700K Condo	On a $900K Home
Conventional	3%–5%	$21,000–$35,000	$27,000–$45,000
FHA	3.5%	$24,500	$31,500
VA	0%	$0	$0
CalHFA + DPA	As low as 1%	$7,000	$9,000

With down payment assistance programs (covered in the next section), your out-of-pocket minimum can drop to as little as 1% of the purchase price.

Closing Costs

In Los Angeles, closing costs typically run 2%–5% of the purchase price. On a $900,000 home, that’s roughly $18,000–$45,000.

Here’s what makes up your closing costs in LA:

Loan origination fee: 0.5%–1% of loan amount
Appraisal: $500–$800
Title insurance: $2,000–$4,000
Escrow fees: $2,000–$3,500
Recording fees: $100–$250
Transfer tax (LA County): $1.10 per $1,000 of sale price
Transfer tax (City of LA): Additional $4.50 per $1,000 — making LA City’s total $5.60 per $1,000
Home inspection: $400–$600
Homeowners insurance prepay: $1,200–$2,500+
Property tax prepay: Varies

City of LA Transfer Tax Alert

If you’re buying within the incorporated City of Los Angeles, your transfer tax is significantly higher than in most other LA County cities. On a $900,000 home: ~$5,040 in the City of LA vs. only ~$990 in most other LA County cities.

For more details, see our California Closing Costs Guide.

Cash Reserves

Most lenders want to see 2–6 months of mortgage payments in savings after closing. On a $5,500/month payment, that means $11,000–$33,000 in reserve.

The Real Number

For a first-time buyer purchasing a $700,000 condo in LA County with an FHA loan and DPA:

Cost	Amount
Down payment (3.5% FHA)	$24,500
Minus DPA (LIPA, Dream For All, etc.)	–$24,500
Closing costs (~3%)	$21,000
Cash reserves (3 months)	$14,000
Total out-of-pocket	~$35,000

Without DPA, you’d need closer to $55,000–$60,000. That’s why understanding the assistance programs is critical.

Want to see what your specific scenario looks like? Plug your numbers into our California Mortgage Calculator — it’ll show you the monthly payment, total interest, and amortization schedule.

Down Payment Assistance Programs for LA Buyers (2026)

This is where Los Angeles actually has a significant advantage over most US cities. There are multiple layers of DPA programs — federal, state, city, and county — and they can sometimes be stacked together.

Let me walk you through each one.

California Dream For All (Statewide)

This is the big one for 2026.

Dream For All 2026 — Application Window

February 24 – March 16, 2026 (lottery-based selection)

Funding available: $150–$200 million. Get pre-approved with a CalHFA-approved lender NOW — the window is only 3 weeks.

Amount: Up to 20% of purchase price, max $150,000
Type: Shared appreciation loan (0% interest, no monthly payments)
Repayment: When you sell, refinance, or transfer — you repay the assistance plus 15%–20% of home’s appreciation
Income limit for LA County: ~$168,000 household income

Key requirements:

At least one borrower must be a first-generation homebuyer (parents don’t currently own a home in the US)
All borrowers must be first-time buyers (no homeownership in past 3 years)
Must be a current California resident
Must work with a CalHFA-approved lender
Must complete homebuyer education course

For a full breakdown, see our CalHFA Down Payment Assistance Guide.

City of LA: LIPA (Low Income Purchase Assistance)

If you’re buying within the incorporated City of Los Angeles:

Amount: Up to $161,000
Type: Deferred 0% interest loan with shared appreciation
Repayment: Due on sale, title transfer, refinance, or in 30 years
Availability: Limited reservation slots (18–36 per round)
Next reservation date: March 4, 2026 (18 slots)
Income limit: ≤80% AMI (~$84,850 for 1 person, ~$121,150 for 4-person household)
Minimum buyer contribution: 1% of purchase price from own funds
Credit score: 660+ middle FICO
Max purchase price: $973,750 (SFR), $593,750 (condo/townhome)
Required: 8-hour homebuyer education course

City of LA vs. LA County — Critical Distinction

LIPA is ONLY for properties within the incorporated City of LA
Many areas that feel like “LA” (Glendale, Pasadena, Long Beach, Santa Monica) are separate cities
Use the City of LA’s district finder to verify before counting on this program

City of LA: MIPA (Moderate Income Purchase Assistance)

Amount: $90,000–$115,000
Same structure as LIPA but for moderate-income households (80–150% AMI)
Type: Deferred loan, shared appreciation
2026 reservation dates: January 14 (18 slots) and June 10 (18 slots)

LA County: HOP (Home Ownership Program)

For properties in unincorporated LA County or participating cities:

Program	Max Assistance	Max Purchase Price	Total Cap
HOP-80 (low income)	Up to $100,000 or 20%	$700,000	$150,000
HOP-120 (moderate income)	Up to $85,000 or 20%	$850,000	$200,000

Type: 0% interest deferred loan with shared equity
Required: 8-hour HUD-approved homebuyer education seminar

LA County: Greenline Home Program

Amount: Grant (exact amount varies)
Eligibility: Low-to-moderate income, first-time buyers in LA County
Priority: “High-need” census tracts
Buyer contribution: 3% from own funds
Occupancy requirement: 3 years
3-year forgivable lien

Long Beach: First-Time Homebuyer Grant

Amount: $25,000 grant
Who qualifies: Income ≤200% AMI, first-time buyer, property in City of Long Beach
Type: Grant — does not need to be repaid
Status: Open

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Pro Tip: Long Beach is a separate incorporated city with its own programs. If you’re buying east Long Beach ($700K–$850K), this $25K grant stacks with Dream For All and CalHFA MyHome.

CalHFA MyHome Assistance (Statewide)

Amount: Up to 3.5% of purchase price (deferred second mortgage)
Interest: 0%, no monthly payments
Repayment: When you sell, refinance, or pay off first mortgage
Stackable: Works alongside CalHFA first mortgage programs
No lottery: Available continuously through approved lenders

For the full CalHFA program breakdown, see our CalHFA Down Payment Assistance Guide.

Mortgage Credit Certificate (MCC)

Not a down payment program — but a powerful ongoing benefit:

Benefit: Federal tax credit equal to 15–20% of annual mortgage interest paid
How it works: Reduces your tax bill dollar-for-dollar each year
Remaining 80% of interest still qualifies as itemized deduction
Available through: LAHD (City of LA) and LACDA (County)

This effectively increases your take-home pay, which can help you qualify for a larger mortgage.

Which Program Fits You? Decision Framework

Your Situation	Best Program(s)
First-generation buyer, income <$168K	Dream For All (apply Feb 24–Mar 16)
Low income, buying in City of LA	LIPA ($161K) + MCC
Moderate income, City of LA	MIPA ($90K–$115K) — lottery Jun 10, 2026
Buying in unincorporated LA County	HOP-80 or HOP-120
Any income, want ongoing tax benefit	MCC (stackable with others)
Veteran	VA loan (0% down) — no DPA needed
Just need a small boost	CalHFA MyHome (3.5%, always available)

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Pro Tip: Some programs can be stacked. A CalHFA first mortgage + Dream For All + MCC is a legal combination that significantly reduces your costs. Work with a lender who specializes in DPA programs to maximize your benefits.

For a comprehensive look at all California programs, see our California First-Time Homebuyer Programs guide.

Which Loan Type Makes Sense in LA?

Los Angeles County has some of the highest conforming loan limits in the country: $1,249,125 for a single-family home in 2026. This means you can buy up to $1.25 million and still use a conforming loan with better rates and terms than a jumbo.

Loan Comparison for LA Buyers

Feature	Conventional	FHA	VA
Min. down payment	3%–5%	3.5%	0%
Credit score	620–680+	580+ (3.5% down)	No VA min (lenders: 620+)
LA County loan limit	$1,249,125	$1,249,125	No limit
Mortgage insurance	PMI (removable at 20%)	MIP (permanent for <10% down)	No MI (VA funding fee)
Best for	Strong credit, 5%+ down	Lower credit, small down	Veterans & active military

The FHA vs. Conventional Decision at LA Prices

Here’s something most guides miss:

At LA’s high price points, FHA’s permanent mortgage insurance becomes a major long-term cost.

FHA vs. Conventional on a $900,000 Home (3.5% Down)

FHA MIP: ~$585/month — and it never goes away unless you refinance
Conventional PMI: ~$350–$500/month — and it drops off automatically at 20% equity

If your credit score is 680+, a conventional loan with 5% down will almost always save you money over time compared to FHA in LA’s price range.

Use our Amortization Calculator to compare the total cost of each loan type over 5, 10, and 30 years.

VA Loans: The LA Superpower

If you’re a veteran or active-duty service member, VA loans are unbeatable in Los Angeles:

Zero down payment — even on a $1.2 million home
No mortgage insurance (just a one-time VA funding fee, which can be rolled into the loan)
No loan limit for eligible borrowers with full entitlement
Competitive rates — often 0.25%–0.5% lower than conventional

California has one of the largest veteran populations in the country. If you qualify, use our VA Mortgage Calculator to see what your payment would look like with zero down.

Where Can You Actually Afford to Buy in LA?

Los Angeles is enormous — 88 cities and 140+ unincorporated communities in the county. Prices vary dramatically by area.

Here’s a realistic affordability breakdown for first-time buyers.

Under $600,000: The Entry Points

Palmdale / Lancaster (Antelope Valley): $400K–$550K for single-family homes. Long commute to central LA (60–90 min), but real space and value.
Sylmar / Pacoima / Arleta (northeast Valley): $550K–$650K. Metro access improving. 20–30% below citywide median.
East LA (unincorporated): $500K–$600K. Close to DTLA. Note: unincorporated areas qualify for County HOP programs.

$600,000–$800,000: The Sweet Spot for DPA Buyers

San Fernando Valley (Panorama City, North Hollywood, Van Nuys): $650K–$800K. Good Metro connectivity. Solid condo/townhome stock.
Long Beach (east): $700K–$850K. Growing food/arts scene. Separate city — check for Long Beach-specific programs.
Inglewood / Hawthorne: $650K–$800K. Near SoFi Stadium. Rapid appreciation but still relative value.
El Monte / Baldwin Park / West Covina (San Gabriel Valley): $600K–$750K. Family-oriented. Good school districts.

$800,000–$1,000,000: The Middle Market

Glendale / Burbank: $850K–$1.1M. Highly desirable. Good schools and walkability.
Torrance / Redondo Beach (South Bay): $900K–$1.2M. Beach proximity. Strong quality of life.
Eagle Rock / Highland Park (northeast LA): $800K–$1.0M. Trendy. Quick appreciation.

Over $1,000,000: Conforming Loan Still Works

Culver City / Mar Vista / Palms (Westside): $1.0M–$1.4M. Tech jobs nearby (Silicon Beach).
Sherman Oaks / Encino (south Valley): $1.0M–$1.5M. Families. Excellent schools.

Key Insight

LA County’s $1,249,125 conforming loan limit means you can buy up to roughly $1.3M and still get conforming loan rates with 5% down. You don’t need a jumbo loan for most LA properties.

Not sure if you should rent or buy in your target neighborhood? Use our Rent vs. Buy Calculator to compare.

The Wildfire Insurance Factor: What Every LA Buyer Must Know

This is the issue that most homebuyer guides either skip entirely or bury in fine print.

Don’t make that mistake.

After the devastating January 2025 Palisades and Eaton fires — which caused an estimated $52.5 billion in damages and destroyed approximately 11,300 homes — LA’s insurance market has fundamentally changed.

Wildfire Insurance Alert

1. Insurance availability varies by location. Major carriers have pulled back from fire-prone hillside areas. If you’re buying in the hills of Malibu, the Palisades, or the foothills of the San Gabriels, getting standard homeowners insurance may be difficult.

2. The FAIR Plan is the backstop — and it’s getting more expensive. California’s insurer of last resort has requested an average 36% rate increase beginning spring 2026. FAIR Plan policies provide bare-bones coverage and are typically more expensive than standard policies.

3. Budget for higher insurance costs. Average homeowners insurance in LA runs around $1,500–$1,600/year for standard coverage. In fire-zone areas, premiums can run $3,000–$6,000+ or more.

4. Insurance is a lender requirement. You cannot close on a mortgage without homeowners insurance. If you can’t get affordable coverage, the deal falls apart.

What to Do About Insurance

Get insurance quotes BEFORE making an offer, especially for hillside or brush-adjacent properties
Ask your agent about the property’s fire risk zone designation
Budget $150–$500/month for insurance in your affordability calculations (use the higher end for fire-adjacent areas)
Look into wildfire mitigation discounts — California now requires insurers to offer premium reductions for homes with defensible space and fire-resistant features

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Pro Tip: When running numbers in our California Mortgage Calculator, make sure to input a realistic insurance figure — not just the default. This can swing your monthly payment by $200–$400/month.

Property Taxes in LA: What to Expect

Thanks to California’s Proposition 13, your property tax is calculated based on the purchase price (not market value) and is capped at increasing no more than 2% per year.

LA Property Tax Breakdown

Base rate: 1% of assessed value (purchase price)
Additional assessments and bonds: Typically 0.15%–0.35% depending on location
Effective total rate: Usually 1.15%–1.35% of purchase price

Example: On a $900,000 home:

Year 1 property tax: roughly $10,350–$12,150/year ($862–$1,012/month)
Year 2: increases by max 2% ($10,557–$12,393)

This is actually one of LA’s hidden advantages. In many other states, your tax goes up when the market goes up. In California, it’s locked to what you paid. Over 10–20 years, this saves LA homeowners tens of thousands compared to states without Prop 13 protections.

For a deeper dive into how California property taxes work, see our California Property Tax Guide.

Step-by-Step: Your LA Homebuying Timeline

Here’s a realistic timeline from “I’m thinking about it” to “I have the keys.”

Months 6–12 Before Buying

Check your credit score (target: 660+ for DPA programs, 700+ for best rates)
Start saving for reserves (aim for $15,000–$35,000 beyond down payment/closing costs)
Research neighborhoods using our Rent vs. Buy Calculator
Complete an 8-hour HUD-approved homebuyer education course (required for most DPA programs)

Months 3–6 Before Buying

Get pre-approved with a DPA-participating lender
Apply for Dream For All if eligible (Feb 24–Mar 16, 2026 window)
Determine which DPA programs you qualify for (City vs. County vs. State)
Start attending open houses to learn pricing in your target areas

Months 1–3: Active Shopping

Work with a buyer’s agent experienced in DPA transactions
Get insurance quotes for any property you’re serious about
Run scenarios in the California Mortgage Calculator for each property
Make offers with appropriate contingencies (inspection, appraisal, financing)

Closing (30–60 Days)

Complete home inspection ($400–$600)
Appraisal ordered by lender ($500–$800)
Final loan approval and clear to close
Review closing disclosure (3 business days before closing)
Wire funds and sign documents
Get your keys

Total Timeline

Most LA first-time buyers take 4–8 months from first pre-approval to keys in hand.

7 Mistakes LA First-Time Buyers Make

1. Not Checking City vs. County Boundaries

LIPA works ONLY in the City of LA. HOP works in unincorporated areas and participating cities. Dream For All works statewide. Buying one block outside a boundary can change which programs you qualify for by $100,000+.

2. Waiting for Rates to Drop

If rates drop to 5.5%, millions of sidelined buyers will flood the market. Prices will rise. Buy now at 6%, refinance later if rates improve. You marry the house, you date the rate.

3. Skipping the Insurance Check

Getting insurance quotes after you’re under contract — only to find the property is uninsurable at an affordable rate — is one of the most expensive mistakes you can make.

4. Ignoring Condo/Townhome Options

The median LA County condo price (~$650K–$722K) is $200K–$300K less than single-family. For first-time buyers, condos are a legitimate entry point — especially when combined with DPA.

5. Not Using DPA Programs

Roughly 80% of LA first-time buyers who qualify for assistance programs don’t apply. That’s potentially $50,000–$161,000 left on the table.

6. House-Shopping Before Pre-Approval

In LA’s market, sellers won’t take your offer seriously without pre-approval. And DPA lenders need weeks to process — not days.

7. Forgetting About Reserves

Lenders want to see 2–6 months of payments in savings after closing. Draining your entire savings for the down payment can kill the deal at underwriting.

How to Use the CalcLogix Calculator for Your LA Purchase

Our California Mortgage Calculator helps you model real LA scenarios. Here’s how to use it:

Step 1: Enter Your Home Price

Start with a realistic price for your target area (see the neighborhood breakdown above).

Step 2: Set Your Down Payment

Enter your actual expected down payment — including DPA. If you’re getting $100,000 from LIPA, your effective down payment is $100,000 + your 1% contribution.

Step 3: Choose Your Loan Term and Rate

Use the current 30-year rate (~6.09%–6.15%) or enter a specific rate from your pre-approval letter.

Step 4: Add Insurance and Property Tax

This is critical in LA:

Property tax: Enter 1.25% as a reasonable estimate
Insurance: Enter $150–$400/month depending on location and fire risk
PMI/MIP: The calculator factors this in based on your down payment percentage

Step 5: Compare Scenarios

Run multiple scenarios:

What if you buy a $700K condo vs. a $900K house?
What if rates drop to 5.5% and you refinance in 2 years?
What happens if you add $200/month in extra payments?

Use our Mortgage Payoff Calculator to see how extra payments accelerate your payoff and save on interest.

Sample Scenario

Buyer: First-time, household income $130,000. Buying a $750,000 townhome in Van Nuys with LIPA ($100,000 assistance) + 1% own funds ($7,500).

Input	Value
Home price	$750,000
Down payment	$107,500 (14.3%)
Loan amount	$642,500
Rate	6.10%
Property tax	1.25%
Insurance	$200/month
PMI	~$130/month (drops at 20% equity)
Est. monthly payment	~$4,530 (PITI + PMI)

That’s roughly 42% of gross income — tight but doable, especially since the LIPA loan requires no monthly payments.

Run your own scenario →

Frequently Asked Questions

How much money do I need to buy a house in Los Angeles in 2026?

With down payment assistance, you can get into a home with as little as 1% down plus closing costs and reserves. Realistically, plan for $25,000–$50,000 in total out-of-pocket costs for a $700,000–$900,000 property when using DPA programs.

What is the income limit for first-time homebuyer programs in LA?

It varies by program. LIPA requires income at or below 80% AMI (~$84,850 for 1 person, $121,150 for a family of 4). Dream For All’s LA County limit is approximately $168,000. CalHFA programs go up to 150% AMI in some cases.

What is the conforming loan limit in Los Angeles County for 2026?

$1,249,125 for a single-family home. This is the high-balance limit, which means you can borrow up to this amount and still get conforming loan rates. Loans between $832,750 and $1,249,125 are classified as “high-balance conforming” and may carry slightly higher rates.

Is it worth buying a house in LA in 2026?

If you plan to stay 5+ years, have stable income, and can afford the monthly payment comfortably, 2026 offers relatively favorable conditions: stabilizing prices, increasing inventory, and more negotiating power than buyers have had since 2019. Use our Rent vs. Buy Calculator to compare your specific situation.

What is the LIPA program in Los Angeles?

The Low Income Purchase Assistance (LIPA) program provides up to $161,000 in down payment, closing cost, and acquisition assistance to first-time, low-income homebuyers purchasing within the incorporated City of Los Angeles. It’s a deferred 0% interest loan with a shared appreciation provision, meaning the City shares a percentage of your home’s appreciation when you sell or the loan comes due.

Can I use multiple down payment assistance programs together?

Yes, in many cases. For example, you may be able to combine a CalHFA first mortgage with Dream For All assistance and an MCC tax credit. However, not all programs are compatible — work with a lender who specializes in LA DPA programs to determine the best combination for your situation.

How much are closing costs in Los Angeles?

Typically 2%–5% of the purchase price. On a $900,000 home, expect $18,000–$45,000 in closing costs. The City of LA has higher transfer taxes ($5.60 per $1,000) than most other LA County cities ($1.10 per $1,000), which adds several thousand dollars to your costs. See our California Closing Costs Guide for full details.

What credit score do I need to buy a house in LA?

Most DPA programs require a minimum 660 middle FICO score. Conventional loans generally need 620+, though you’ll get better rates at 700+. FHA loans can go as low as 580 with 3.5% down, but many LA lenders set higher minimums.

Do I need to take a homebuyer education course?

Yes, for virtually all DPA programs. Both LAHD (City of LA) and LACDA (County) require an 8-hour HUD-approved homebuyer education course and counseling session. CalHFA requires its own approved education course. Complete this early — don’t wait until you’re under contract.

What about earthquake insurance?

Standard homeowners insurance in California does NOT cover earthquake damage. Earthquake insurance is optional but strongly recommended — it’s available through the California Earthquake Authority (CEA) or private insurers. Premiums vary widely based on your home’s age, construction type, and location, typically $800–$3,000+/year.

Your Next Steps

Ready to start your LA homebuying journey? Here’s what to do this week:

Run your numbers. Use the California Mortgage Calculator to see what you can afford at different price points with realistic LA costs.
Check your credit. Pull your free credit report at AnnualCreditReport.com. If you’re below 660, focus on improving your score before applying for DPA.
Sign up for homebuyer education. This takes 8+ hours and is required for almost every assistance program. Do it now so it’s done when you need it.
If you might qualify for Dream For All, contact a CalHFA-approved lender immediately to get pre-approved before the February 24 application window.
Compare rent vs. buy for your specific situation using the Rent vs. Buy Calculator.
Budget for closing costs. Beyond monthly payments, expect 2–5% of the purchase price upfront.

Buying a home in LA isn’t easy. But with the right preparation, the right programs, and realistic numbers, it’s more achievable than most people think.

Related Calculators

Helpful Resources

California First-Time Homebuyer Programs — 100+ assistance programs with income limits and stacking strategies
CalHFA Down Payment Assistance Guide — Complete breakdown of CalHFA programs, eligibility, and how to apply
California Property Tax Guide — Everything about Prop 13, Mello-Roos, and effective tax rates
California Closing Costs Guide — What to budget for beyond your monthly payment
True Cost of Buying a Home in 58 CA Counties — County-by-county cost breakdown
Today’s Mortgage Rates — Daily rate updates from Federal Reserve data
Mortgage Rates Guide — How rates work and what drives them up or down
How Amortization Works — Understanding how your monthly payment is applied
27 Housing Hacks — Creative strategies to make homeownership more affordable

About Jon Teera

Jon Teera is the Lead Developer and Founder of CalcLogix. He builds tools that help homebuyers navigate California’s complex housing market — because understanding the true cost of homeownership shouldn’t require a finance degree.

First-Time Homebuyer Guide: Los Angeles 2026 Real Numbers, Real Programs & Real Scenarios for LA Buyers