However, if the money came from a private source then it could be used to reduce the loan amount – but the borrower would still need to come up with down payment money. At the time all of this was going on I said that "a lot has been made of the $8,000 tax credit and how it can be combined with FHA financing to buy a home with nothing down.
CHFA Loans (CHAFA) – California backed program allowing buyers 100% financing. Access 2000 – No money down program for California. Since you must be able to obtain FHA financing in order to use any of these programs, learn more about FHA Loan Qualifying