CalHFA MyHome Assistance Program: A Deferred Second for California Buyers
CalHFA MyHome adds a deferred second loan of 3% (conventional, VA, USDA) or 3.5% (FHA) of the price for down payment and closing costs. It layers with a CalHFA first mortgage and, in many cases, with other assistance.
What MyHome is
The MyHome Assistance Program is CalHFA’s everyday down payment tool, and it is built to stack. It gives you a second loan worth 3% of the price on a CalHFA conventional, VA, or USDA first mortgage, or 3.5% on a CalHFA FHA loan, to use for your down payment and closing costs. There is no monthly payment. The loan is deferred for the life of your first mortgage and only comes due when you sell, refinance, pay off, or transfer the home. For a first-time buyer whose gap is a few percent of the price, MyHome closes it.
Layering MyHome with other help
MyHome’s real strength is that it plays well with others. CalHFA lets you combine it with other non-CalHFA down payment assistance or grants to maximize affordability, MyHome simply has to sit in second-lien position. That means a buyer can pair MyHome with a local city or county program to cover more of the cash to close. The one exception: MyHome cannot be combined with a Dream For All Conventional first mortgage, those are separate paths. We map the layers that apply to your county.
Who qualifies for MyHome
MyHome is for first-time homebuyers, defined as not having owned a principal residence in the past three years, buying an owner-occupied home anywhere in California and using a CalHFA first mortgage. You must occupy the home within 60 days, complete homebuyer education, and meet CalHFA’s credit and income requirements (generally a 680 minimum score for standard conventional, 660 on the HomeReady low-income conventional rate, with income under the county limit). Because MyHome is first-time only, repeat buyers usually move to GSFA Platinum instead.
Common questions
What is the CalHFA MyHome Assistance Program?
MyHome is a CalHFA deferred, simple-interest second loan worth 3% of the price (conventional, VA, USDA) or 3.5% (FHA), used for down payment and closing costs with a CalHFA first mortgage. It has no monthly payment and is deferred for the life of the first loan, due at sale, refinance, payoff, or transfer.
Can I combine MyHome with other down payment assistance?
Yes, in most cases. CalHFA allows MyHome to layer with other non-CalHFA assistance or grants as long as MyHome sits in second-lien position, so you can pair it with a local city or county program. The exception is that MyHome cannot be combined with a Dream For All Conventional first mortgage.
Do I have to be a first-time buyer for MyHome?
Yes. MyHome is for first-time homebuyers, defined as not having owned a principal residence in the past three years, buying an owner-occupied home with a CalHFA first mortgage. Repeat buyers usually use GSFA Platinum, which has no first-time-buyer requirement, instead.
How much is the MyHome loan?
3.00% of the sales price or appraised value (whichever is less) with a CalHFA or CalPLUS conventional, VA, or USDA first mortgage, and 3.50% with a CalHFA or CalPLUS FHA loan. It is a deferred second with no monthly payment. Confirm current terms and county income limits with CalHFA.
See if MyHome fits you
Tell us your county, credit range, and price target, and we’ll map your California path in a no-pressure 20-minute call. No obligation.