For many California first-time buyers, coming up with the down payment is the biggest hurdle. Programs like CalHFA MyHome are designed to help bridge that gap with assistance toward the down payment or closing costs.
What MyHome is designed to do
MyHome assistance is generally structured as a subordinate (second) loan that helps cover the down payment and/or closing costs, layered on top of a CalHFA first mortgage. This can let qualified buyers purchase sooner by reducing the cash needed at closing.
Typical eligibility themes
- First-time-buyer status (often defined as not owning in the past three years).
- Income at or below program limits, which vary by county and household.
- Completion of a homebuyer-education course.
- Purchase of a primary residence within program price limits.
- Use of a CalHFA-approved lender.
How the assistance is structured
Assistance programs like MyHome are commonly deferred subordinate loans, meaning repayment may be deferred until you sell, refinance, or pay off the first mortgage. The exact structure and terms have changed over time, so confirm the current version before relying on specifics.
Combining with other programs
CalHFA assistance is often paired with a CalHFA first mortgage and may be combined with a Mortgage Credit Certificate or other help, subject to current rules. An approved lender can map what currently works together for your situation.
Steps to pursue MyHome
- Confirm you meet current first-time-buyer and income criteria.
- Complete the required homebuyer-education course.
- Choose a CalHFA-approved lender.
- Get pre-approved and identify a primary residence within limits.
- Coordinate the assistance with your offer and closing.
Confirm before you count on it
Assistance programs have limited funding and periodic changes. Always confirm current eligibility, terms, and funding availability with CalHFA and your lender before making it central to your plan.
General information only. This page is educational and is not financial, tax, mortgage, or legal advice. Loan terms, assistance-program eligibility, funding, and tax rules change frequently — confirm current eligibility and your personal situation with a licensed lender, tax professional, and your REALTOR®.
Frequently Asked Questions
What is CalHFA MyHome Assistance?
It is a California program that has provided eligible first-time buyers a subordinate loan toward down payment and/or closing costs, paired with a CalHFA first mortgage. Confirm current eligibility and funding.
Who qualifies for MyHome?
Eligibility typically includes first-time-buyer status, income limits, homebuyer education, and primary-residence purchase within price limits. Verify current criteria with CalHFA and a lender.
Do I have to repay MyHome assistance?
Such assistance is often a deferred subordinate loan repaid on sale, refinance, or payoff. Terms change — confirm the current structure with CalHFA and your lender.
Can I combine MyHome with other programs?
It is often paired with a CalHFA first mortgage and may combine with an MCC or other help, subject to current rules. An approved lender can confirm.
Is there an income limit?
Yes, programs like MyHome use income limits that vary by location and household. Confirm the current limits for your county.
How do I apply?
Through a CalHFA-approved lender, after meeting eligibility and education requirements. Start by confirming current availability with CalHFA and a lender.
