What you actually need to buy your first home in San Diego
Most first-time buyers in Metro San Diego need a minimum of 3.5–5% down (FHA or conventional with down payment assistance) plus 2–3% in closing costs. On a $900,000 North Park craftsman, that translates to roughly $45,000–$70,000 in liquid funds at close. Credit score target: 680+. Debt-to-income target: under 43%.
2026 down payment assistance programs in California
Four programs come up most often for first-time buyers in San Diego:
- CalHFA MyHome Assistance Program — up to 3% of the purchase price as a deferred-payment second loan toward down payment or closing costs.
- CalHFA Forgivable Equity Builder Loan — up to 10% of the purchase price as a forgivable loan, available to first-generation buyers.
- GSFA Platinum Program — non-repayable down payment assistance up to 5% of the loan amount.
- County of San Diego Down Payment & Closing Cost Assistance — silent second loan up to $116,000 for qualifying buyers in unincorporated areas.
Which Metro San Diego neighborhoods work for first-time buyers
North Park and South Park carry the most single-family inventory under $1M in Metro San Diego. Normal Heights and University Heights extend the range further with smaller-footprint craftsmans in the $650K–$850K range. Hillcrest and Mission Hills generally exceed first-time-buyer budgets unless the search opens to condos.
The realistic first-time buyer timeline
From first consultation to keys in hand: 90–120 days is typical. Pre-approval (1–2 weeks), active touring (4–8 weeks), offer accepted to close (30–45 days). Buyers in tight neighborhoods sometimes tour for 90+ days waiting for the right home.