California Housing Finance Agency
CalHFA MyHome Assistance
Up to 3.5% of price for down payment or closing costs. Deferred silent second — no monthly payment.
Accepting new reservations as of our last check.
Assistance amount
Up to $15,000 (about 3.5%)
Structure
Deferred second — repaid when you sell or refinance
Where it works
California statewide
First-time buyer required
Yes, in most cases
Minimum credit score
660
Funding status
Active · verified August 2026
Program overview
MyHome is CalHFA's workhorse down payment assistance program. It provides a deferred-payment second mortgage worth up to 3% of the purchase price (conventional) or 3.5% (FHA), which you can put toward your down payment, your closing costs, or both. You make no payments on it. The balance sits quietly behind your first mortgage until you sell, refinance, or pay the first loan off.
Best for: California buyers who need a deferred second to cover the down payment without a monthly payment.
Who qualifies
- First-time buyer rule: You generally cannot have owned a primary residence in the last three years.
- Credit score: Plan on a 660 minimum credit score for most CalHFA first mortgages, with 680 preferred on conventional. A 640 score can still work on some FHA structures.
- Income limits: CalHFA income limits are set county by county and are among the highest in the country because California incomes are high. Los Angeles and Bay Area caps are far above the national norm.
- Purchase price limit: The home cannot exceed roughly $800,000.
- Occupancy: Owner-occupied primary residence only, and you must complete homebuyer education before closing.
- Eligible loans: FHA, VA, USDA, Conventional
- Homebuyer education: Required before closing. Start it early — certificates take days to issue.
Do you pay it back?
Deferred second lien, repaid at sale/refi/payoff
Check whether you qualify for CalHFA MyHome Assistance
The Finder compares your income, household size, credit band, county, and job to this program's published rules and tells you roughly what it is worth in dollars.
Advantages
- No monthly payment on the assistance — it is fully deferred.
- Can be stacked with other CalHFA assistance in many scenarios.
- Available in every California county through approved lenders.
- Covers closing costs, not just the down payment.
Things to consider
- It is a real loan. You repay it when you sell or refinance.
- It reduces the equity you walk away with on a sale.
- You must use a CalHFA-approved lender and take the CalHFA first mortgage.
- Homebuyer education is required and certificates take days to issue.
How to apply
- Confirm your household income against the current limit for your county and household size.
- Find a lender approved by CalHFA. You cannot use just any lender — the agency maintains a participating list.
- Get pre-approved on the first mortgage the program requires.
- Complete the homebuyer education course. Do this early; certificates take days to issue.
- Write the offer with the assistance disclosed and a realistic closing timeline.
Ask RED: “Explain CalHFA MyHome Assistance to me in plain English.”
Ask REDPairing it with a loan
Frequently asked questions
Do I have to pay CalHFA MyHome Assistance back?
Deferred second lien, repaid at sale/refi/payoff
How much money does CalHFA MyHome Assistance provide?
Up to $15,000 (about 3.5%). The exact figure depends on your loan amount, the option your lender selects, and the funding available at the time you reserve.
What credit score do I need for CalHFA MyHome Assistance?
Plan on a 660 minimum credit score for most CalHFA first mortgages, with 680 preferred on conventional. A 640 score can still work on some FHA structures.
Do I have to be a first-time homebuyer to use CalHFA MyHome Assistance?
Yes. You generally cannot have owned a primary residence in the last three years. Veterans and buyers in designated target areas are often exempt — ask the agency.
Which loans can I use with CalHFA MyHome Assistance?
FHA, VA, USDA, Conventional. The first mortgage has to come from a lender approved by CalHFA — you cannot bring your own lender and add the assistance to it.
What are the income limits for CalHFA MyHome Assistance?
CalHFA income limits are set county by county and are among the highest in the country because California incomes are high. Los Angeles and Bay Area caps are far above the national norm.
Do I have to live in the home?
Owner-occupied primary residence only, and you must complete homebuyer education before closing.
What credit score do I need for down payment assistance?
Most programs start at 620, some FHA-based programs go to 640, and a handful of manually underwritten paths accept 580. A higher score usually unlocks a larger assistance tier and a better interest rate.
Do I have to be a first-time buyer?
Usually, but 'first-time buyer' almost always means you have not owned a home in the last three years — not that you have never owned one. Some programs waive it entirely for veterans, for buyers in targeted areas, or for certain professions.
Other programs California buyers can use
Chenoa Fund Down Payment Assistance
Chenoa Fund · Nationwide
Up to $25,000 (about 5%)
A nationwide 3.5% or 5% second mortgage that covers the entire FHA down payment, available in nearly every state.
Program detailsCalHFA Dream For All Shared Appreciation Loan
CalHFA · California statewide
Up to $150,000 (about 20%)
Up to 20% of the purchase price toward down payment and closing costs, repaid with a share of appreciation.
Program detailsGSFA Platinum Down Payment Assistance
GSFA · California statewide
Up to $27,000 (about 5.5%)
Up to 5.5% of the loan amount as a gift or forgivable second, with no first-time buyer requirement.
Program detailsCalHFA Forgivable Equity Builder
California Housing Finance Agency · California statewide
Up to $30,000 (about 10%)
Up to 10% of purchase price — fully forgiven after 5 years of owner-occupancy.
Program detailsRelated resources
- The complete California homebuyer guide
- All California assistance programs
- How much home can I afford?
- FHA loan requirements
- Conventional loan requirements
- Run my Readiness Score
- Down Payment Assistance Finder
- How to use the DPA Finder (user guide)
- The Homebuyer's Knowledge Center
- Down payment assistance explained
- Ask RED a question
ReadinessIQ is a Homebuyer Readiness Platform, not the agency that funds these programs. We publish what the agencies publish, link to the official source, and tell you when a rule is likely to change. The agency and your lender make the final call on who qualifies.