CalHFA — the California Housing Finance Agency — runs several programs that pair a first mortgage with down payment and closing-cost help. For buyers stretched on cash, these can be the bridge into ownership, and I help my clients see whether they fit.
What CalHFA does
CalHFA is a state agency that helps low-to-moderate-income Californians buy their first home. It does not lend directly to you; instead, it works through approved lenders who originate CalHFA loans and pair them with assistance programs.
First-mortgage options
- Conventional first mortgages with CalHFA terms.
- Government-backed first mortgages (such as FHA) through CalHFA.
- Fixed-rate structures for predictable payments.
- Paired with assistance to reduce upfront cash.
Assistance programs
CalHFA's assistance typically comes as a subordinate (second) loan to help with the down payment or closing costs. The best-known is the MyHome Assistance Program. From time to time CalHFA also runs special initiatives, such as the Dream For All shared-appreciation program, which has limited funding windows.
Eligibility basics
- Income limits that vary by county and household size.
- Homebuyer education or counseling requirements.
- Primary-residence occupancy.
- First-time buyer status for many (though not all) programs.
How they help in our market
With a median price roughly $850,000 in Simi Valley, saving a full down payment is hard. CalHFA assistance can reduce the cash a buyer needs at closing, opening doors that might otherwise stay shut. I help local buyers connect with CalHFA-approved lenders to check eligibility.
Getting started
- Confirm current income limits for your county.
- Complete required homebuyer education.
- Work with a CalHFA-approved lender.
- Match a first mortgage with the right assistance program.
Frequently Asked Questions
What is CalHFA?
CalHFA is the California Housing Finance Agency, a state agency that helps low-to-moderate-income Californians buy their first home. It works through approved lenders, pairing first mortgages with down payment and closing-cost assistance. CalHFA does not lend directly to you, so you apply through an approved lender.
What assistance does CalHFA offer?
CalHFA assistance usually comes as a subordinate second loan to help with down payment or closing costs, such as the MyHome Assistance Program. It also periodically runs special initiatives like Dream For All. Programs and terms change, so confirm what is currently available with CalHFA or an approved lender.
Who is eligible for CalHFA programs?
Eligibility generally depends on income limits that vary by county and household size, homebuyer education requirements, primary-residence occupancy, and often first-time buyer status. Each program has its own rules. Confirm the current requirements for the specific program with CalHFA or a CalHFA-approved lender.
Is CalHFA only for first-time buyers?
Many CalHFA programs target first-time buyers, but not all programs require it, and definitions of first-time buyer can be broader than you expect. Because rules vary by program and change over time, confirm whether a specific program requires first-time status with CalHFA or an approved lender.
Do I have to take a homebuyer class?
Many CalHFA programs require homebuyer education or counseling before closing. This helps ensure you understand the process and your obligations. The specific requirement depends on the program. Confirm current education requirements with CalHFA or your approved lender and complete it early to avoid delays.
How do I apply for a CalHFA loan?
You apply through a CalHFA-approved lender, not CalHFA directly. The lender originates the first mortgage and pairs it with any assistance you qualify for. Start by confirming income limits and completing required education, then connect with an approved lender. I can help you find one.
