4 Popular Down Payment Options for Bakersfield Home Buyers

4 Popular Down Payment Options for Bakersfield Home Buyers

Which One Is Best for You?

One of the biggest misconceptions I still hear from buyers in Bakersfield is this:

“I can’t buy yet — I don’t have 20% down.”

Let’s clear this up right now.

🚨 You do NOT need 20% down to buy a home.
🚨 You do NOT need to wait years saving before you can qualify.
🚨 And yes — zero-down options still exist.

Many buyers are surprised to learn that there are multiple down payment options available, including programs that can help cover down payment and closing costs.

Below are four of the most popular down payment options used by home buyers in Bakersfield and throughout Kern County — and how to know which one may be right for you.

#1 CalHFA – Down Payment Assistance for First-Time Buyers

CalHFA (California Housing Finance Agency) offers programs designed to help first-time home buyers purchase with less cash upfront.

How it works:

• CalHFA provides two loans: a primary mortgage and a second loan to help with down payment and/or closing costs
  
  
• Minimum credit score is typically around 660
  
  
• Competitive interest rates
  
  
• The second loan is paid back at your own rate, depending on the program
  
  

Why buyers like it:

• Helps buyers get into a home sooner
  
  
• Reduces the need for large upfront savings
  
  

Best for:
Buyers with solid credit who need help covering upfront costs.

#2 GSFA Platinum – Closing Cost Assistance You May Not Repay

GSFA Platinum is a popular program because it helps with closing costs, not just the down payment.

How it works:

• Provides an additional loan that can cover a portion of your closing costs
  
  
• No income limits
  
  
• Minimum credit score around 660
  
  
• The assistance may be forgiven after 3 years, meaning you may never have to pay it back
  
  

Why buyers like it:

• Keeps more money in your savings
  
  
• Great for buyers who qualify but don’t want to drain cash to close
  
  

Best for:
Buyers who want help with closing costs and long-term flexibility.

#3 VA Home Loan – Zero Down for Veterans & Active Duty

The VA loan is one of the strongest home loan options available.

How it works:

• Available to Veterans and Active Duty service members
  
  
• No down payment required
  
  
• No monthly mortgage insurance
  
  
• Credit scores can be as low as 620
  
  
• Often one of the easiest loans to qualify for
  
  

Why buyers like it:

• Zero down
  
  
• Lower monthly payment due to no mortgage insurance
  
  

Best for:
Eligible Veterans or Active Duty buyers looking for maximum buying power.

#4 USDA Loan – Zero Down in Eligible Kern County Areas

The USDA loan is a zero-down option for buyers purchasing in eligible rural areas.

How it works:

• No down payment required
  
  
• Applies only to USDA-approved locations
  
  
• Income limits apply
  
  
• Flexible credit guidelines
  
  

Eligible areas in Kern County may include:
Taft, Wasco, Arvin, McFarland, Tehachapi, Lake Isabella, and Shafter.

Why buyers like it:

• Zero down
  
  
• Lower upfront cost for buyers open to specific locations
  
  

Best for:
Buyers purchasing outside central Bakersfield who meet income and location requirements.

“But Don’t I Still Need Money Up Front?”

Yes — when you make an offer, there is typically a deposit (earnest money) involved.

However, in many cases:

• Closing costs can be negotiated
  
  
• Buyers can use down payment assistance
  
  
• That deposit may be returned to the buyer at closing
  
  

I’ve helped buyers purchase homes where they received 100% of their deposit back on closing day by combining negotiations with assistance programs.

The Bottom Line

You do not need 20% down.
You do not need perfect credit.
And you may be closer to buying than you think.

The key is knowing:
✔ Which programs you qualify for
✔ Which option fits your long-term goals
✔ How to structure the offer correctly from the start

Ready to Find Out Which Option Is Best for You?

Click below to learn more about your options and see what you may qualify for before starting your home search.

👉 Read More & Explore Your Options

Frequently Asked Questions About Down Payment Options in Bakersfield

Do I need 20% down to buy a home in Bakersfield?

No. Many buyers in Bakersfield qualify with far less than 20% down. Depending on the loan program, you may be able to buy with as little as 3%–3.5% down, or even zero down using VA or USDA loans. Down payment assistance programs like CalHFA and GSFA Platinum can also help reduce upfront costs.

What down payment assistance programs are available in Bakersfield?

Popular down payment assistance options in Bakersfield and Kern County include CalHFA and GSFA Platinum. These programs can help cover part of your down payment or closing costs, making homeownership more accessible for first-time and repeat buyers who meet credit and program guidelines.

Can first-time home buyers buy a home with zero down?

Yes. First-time home buyers may qualify for zero down payment loans through programs like VA loans (for eligible Veterans and Active Duty service members) or USDA loans (for homes located in eligible areas of Kern County). Some down payment assistance programs can also reduce the required cash to close to near zero.

Are zero down payment loans available in Kern County?

Yes. Zero down payment loan options are available in certain parts of Kern County. VA loans are available statewide for eligible buyers, while USDA loans apply to specific areas such as Taft, Wasco, Arvin, McFarland, Tehachapi, Lake Isabella, and Shafter. Location, income limits, and eligibility requirements apply.

Which down payment option is best for me?
The best option depends on your credit score, income, location, and long-term goals. Speaking with a local lender and Realtor can help you compare programs and choose the option that fits your situation best.