MyHome is one of CalHFA's workhorse assistance programs. It provides a small second loan to help cover the down payment or closing costs, paired with a CalHFA first mortgage — and it has helped many first-time buyers cross the finish line.
What MyHome provides
MyHome gives eligible buyers a subordinate loan to use toward the down payment or closing costs, reducing the cash needed at closing. It is paired with a CalHFA first mortgage rather than offered on its own.
How the deferred second works
MyHome is typically a deferred-payment loan, meaning you generally do not make monthly payments on it. Instead, it usually becomes due when you sell, refinance, transfer, or pay off the first mortgage. This keeps your monthly housing cost lower while still helping with upfront cash.
Eligibility basics
- Income within CalHFA limits for your county and household size.
- Completion of homebuyer education.
- Use of the home as your primary residence.
- First-time buyer status for many applicants.
How much help is available
The assistance amount is set by CalHFA and is generally tied to a percentage of the purchase price or appraised value, up to program limits. Because these figures change, confirm the current maximum with a CalHFA-approved lender rather than relying on an old number.
Why it matters locally
In a market where saving a down payment is the biggest hurdle, MyHome can be the difference-maker. I connect local first-time buyers with CalHFA-approved lenders to see whether MyHome plus a first mortgage fits their budget and target home.
Steps to use MyHome
- Confirm your county income limit.
- Complete required homebuyer education.
- Work with a CalHFA-approved lender.
- Pair MyHome with an eligible CalHFA first mortgage.
Frequently Asked Questions
What is the MyHome Assistance Program?
MyHome is a CalHFA program that provides a deferred-payment subordinate loan to help eligible buyers with their down payment or closing costs. It is paired with a CalHFA first mortgage, not offered alone. Eligibility depends on income limits, homebuyer education, and occupancy. Confirm current terms with a CalHFA-approved lender.
Do I make payments on MyHome?
MyHome is typically a deferred-payment loan, so you generally do not make monthly payments on it. Instead, it usually becomes due when you sell, refinance, transfer, or pay off your first mortgage. This keeps your monthly cost lower. Confirm the exact repayment terms with your lender.
How much assistance does MyHome provide?
The amount is set by CalHFA and is generally tied to a percentage of the purchase price or appraised value, up to program limits. Because these figures change over time, confirm the current maximum assistance for your situation with a CalHFA-approved lender rather than relying on an old figure.
Who qualifies for MyHome?
Eligibility generally requires income within CalHFA limits for your county and household size, completion of homebuyer education, primary-residence occupancy, and often first-time buyer status. Each requirement has specifics. Confirm the current rules with a CalHFA-approved lender before assuming you qualify.
Is MyHome only for first-time buyers?
Many MyHome applicants are first-time buyers, and first-time status is commonly required, though CalHFA's definition can be broader than expected. Because program rules change, confirm whether first-time status is required for your situation with a CalHFA-approved lender.
How do I apply for MyHome?
You apply through a CalHFA-approved lender, who pairs MyHome with an eligible CalHFA first mortgage. Start by confirming your county income limit and completing required homebuyer education, then connect with an approved lender. I can help you find a lender experienced with CalHFA programs.
