CalHFA Conventional and FHA

The money you put "down" or the down payment on your home loan can be one of the largest hurdles for many first-time homebuyers. That's why CalHFA offers several options for down payment and closing cost assistance. This type of assistance is often called a second or subordinate loan. CalHFA's subordinate loans are "silent seconds", meaning payments on this loan are deferred so you do not have to make a payment on this assistance until your home is sold, refinanced or paid in full. This helps to keep your monthly mortgage payment affordable.

MyHome Assistance Program
CalHFA Government Loans (FHA): MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3.5% of the purchase price or appraised value to assist with down payment and/or closing costs.

CalHFA Conventional Loans: MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3% of the purchase price or appraised value to assist with down payment and/or closing costs.

Borrower Requirements

• Be a first-time homebuyer. See the definition of a first-time homebuyer.

• Occupy the property as a primary residence; non-occupant co-borrowers are not allowed.

• CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.

• Meet CalHFA income limits for this program.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

• Be a single-family, one-unit residence, including approved condominium/PUDs

• Guest houses, granny units and in-law quarters may be eligible

• Manufactured housing is permitted

• Condominiums must meet the guidelines of the first mortgage

*In the case of conflicting guidelines, the lender must follow the more restrictive.

More DOWN PAYMENT ASSISTANCE Programs