{"id":6717,"date":"2026-03-08T21:01:25","date_gmt":"2026-03-09T04:01:25","guid":{"rendered":"https:\/\/blog.loaning.ai\/en\/?p=6717"},"modified":"2026-03-08T21:01:27","modified_gmt":"2026-03-09T04:01:27","slug":"calhfa-myhome-assistance-first-time-homebuyer-assistance-program","status":"publish","type":"post","link":"https:\/\/blog.loaning.ai\/en\/6717\/","title":{"rendered":"Calhfa MyHome Assistance: First-Time Homebuyer Assistance Program"},"content":{"rendered":"\n
\n \ud83d\udca1 Calhfa MyHome Assistance is a program that provides California first-time homebuyers with low-interest assistance for up to 3.5% of the home’s purchase price.
It features a deferred payment structure with no monthly payments required, and you can apply if you have a credit score of 660 or higher and meet the income limits!
\n<\/div>\n\n\n\n
\"California<\/figure>\n\n\n\n

For those dreaming of owning a home in California, down payments and closing costs are often the biggest concerns.
After all, with skyrocketing home prices, coming up with tens of thousands of dollars upfront all at once is never easy!<\/p>\n\n\n\n

This is where CalHFA’s MyHome Assistance program can help. \ud83d\ude0e
It’s a first-time homebuyer benefit that provides low-interest loans covering up to 3.5% of the purchase price, dramatically reducing the initial cost burden.<\/p>\n\n\n\n

Today, we’ll explore the CalHFA MyHome Assistance program.<\/p>\n\n\n\n

.<\/p>\n\n\n\n

Calhfa MyHome Assistance Program, Your Start to Homeownership in California<\/strong><\/h2>\n\n\n\n
\n
\n \n \n \n \n \n \n \n \n \n \n
\n Category\n <\/th>\n \n Details\n <\/th>\n <\/tr>\n <\/thead>\n
\n Program Type\n <\/td>\n \n Subordinate loan with 1% annual simple interest\n <\/td>\n <\/tr>\n
\n Repayment Terms\n <\/td>\n \n No monthly payments (deferred payment).
Full repayment is required when the home is sold, the mortgage is refinanced, or the first mortgage is paid in full.\n <\/td>\n <\/tr>\n
\n Assistance Limit\n <\/td>\n \n With an FHA Loan:<\/strong> Up to 3.5%<\/strong> of the purchase price or appraised value, whichever is less.
\n With a Conventional Loan:<\/strong> Up to 3%<\/strong> of the purchase price or appraised value, whichever is less.\n <\/td>\n <\/tr>\n
\n Eligibility Requirements\n <\/td>\n \n
    \n
  • California first-time homebuyer (no homeownership in the last 3 years)<\/li>\n
  • Minimum credit score of 640<\/strong> recommended (lenders may require 660-680)<\/li>\n
  • Must meet CalHFA income limits for the respective county<\/li>\n
  • Completion of homebuyer education counseling through an approved organization is required<\/li>\n <\/ul>\n <\/td>\n <\/tr>\n
\n Eligible Properties\n <\/td>\n \n
    \n
  • Property located in California intended as a primary residence<\/strong><\/li>\n
  • Single-family homes, approved condos, and townhouses<\/li>\n
  • Includes manufactured homes that meet specific requirements<\/li>\n <\/ul>\n <\/td>\n <\/tr>\n
\n Program Combination\n <\/td>\n \n Can be combined with ZIP<\/strong>, a zero-interest closing cost assistance program\n <\/td>\n <\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n<\/div>\n\n\n\n

The Calhfa MyHome Assistance Program is a 1% simple interest subordinate loan program that supports down payments and closing costs for first-time homebuyers in California.<\/p>\n\n\n\n

The most appealing aspect of this program is its \u2018silent second mortgage\u2019 structure.
Unlike typical loans where you repay principal and interest monthly, it features a deferred payment structure where loan repayment is postponed. \u2728<\/p>\n\n\n\n

This means your monthly payment burden doesn’t increase at all after purchasing the home.
As a result, the amount received only needs to be repaid later when you sell the home, refinance, or at the end of the loan term, making it highly advantageous for securing immediate cash flow. \ud83e\uddd0<\/p>\n\n\n

\n
\"California
(Source: California Official Website)<\/figcaption><\/figure>\n<\/div>\n\n\n
\n \u2728 Special Benefits of the CalHFA MyHome Assistance Program<\/strong>

\n
    \n
  • Up to 3.5% Assistance:<\/strong> Receive up to 3.5% of the purchase price or appraised value (whichever is less) to use toward your down payment or closing costs.<\/li>\n
  • Deferred Payment:<\/strong> There are no monthly payments required while you own the home, keeping your household budget manageable.<\/li>\n
  • Low Interest Rate:<\/strong> As a government-backed program, it applies a much more competitive interest rate compared to typical secondary loans on the market.<\/li>\n
  • Program Combination:<\/strong> It can be combined with various first mortgage products (such as FHA or Conventional loans), allowing you to design the optimal plan for your financial situation.<\/li>\n <\/ul>\n<\/div>\n\n\n\n

    .<\/p>\n\n\n\n

    Calhfa MyHome Assistance Program, what are the eligibility requirements? \ud83e\uddd0<\/strong><\/h2>\n\n\n\n

    As of 2026, the MyHome program requires a minimum credit score of 660 and meeting county-specific income guidelines.
    Want to learn more?<\/p>\n\n\n\n