CalHFA MyHome Assistance Program

MyHome is a deferred-payment second (junior) loan from the California Housing Finance Agency that helps first-time homebuyers cover their down payment and closing costs. The assistance is up to 3.5 percent of the purchase price or appraised value (whichever is less) on a CalHFA FHA or government first loan, or up to 3 percent on a CalHFA conventional first loan. There are no monthly payments; repayment is deferred until you sell, refinance, pay off the first mortgage, or the loan term ends. CalHFA is not a direct lender, so there is no homeowner application form. You apply through a CalHFA-approved lender or loan officer, who packages MyHome together with your CalHFA first mortgage.

Steps to apply

1. Find a CalHFA-approved loan officer using the official Find a Loan Officer locator at calhfa.ca.gov/homebuyer/lenders.htm, or call CalHFA at 877-922-5432.
2. Complete the required homebuyer education and counseling course (eHome's eight-hour online course is the only accepted online option, about a 100 dollar fee) and get your certificate of completion.
3. Work with the loan officer to apply for a CalHFA first mortgage, since MyHome is layered on top of it; the lender prepares and submits all CalHFA paperwork for you.
4. Provide income, employment, and identity documents so the lender can confirm you meet the county income limit, the first-time homebuyer rule, and the owner-occupant requirement.
5. Close on the home; the MyHome deferred-payment junior loan funds your down payment and closing costs at closing.