Last reviewed by Ken Clark Jr., Certified Mortgage Advisor, NMLS #225375, on May 17, 2026.
CalHFA MyHome is one of the most widely used Down Payment Assistance programs in California. It pairs with FHA, VA, USDA, and conventional first mortgages, and provides a deferred-payment subordinate loan toward down payment and closing costs.
Up to 3.5% of purchase price when paired with FHA, up to 3% when paired with conventional. Funds can be used for down payment, closing costs, or both. The MyHome second is silent (no monthly payment) and repaid at sale, refinance, or full payoff of the first mortgage.
First-time homebuyers (no homeownership in the past 3 years), with income at or below the program's county limit (typically 80-120% of area median income), and a minimum 660 credit score on conventional or 640+ on FHA. Property must be owner-occupied primary residence in California.
FHA first mortgage at 3.5% down, MyHome covers the down payment as the silent second. Borrower covers closing costs (often with seller credits up to 6%) and prepaid items. Funding fee and MIP apply standard to FHA. Best for borrowers with credit scores 640-720.
Conventional first mortgage at 3% down, MyHome covers the down payment. Conventional PMI applies (can be removed at 20% equity). Best for borrowers with 700+ credit scores who plan to refinance or reach 20% equity within a few years.
VA first mortgage at 0% down (eligible veterans), MyHome can cover the VA funding fee and closing costs. Especially helpful for veterans with no down payment cash.
CalHFA publishes county-specific income limits annually. Sacramento County 2026 limits hover around $148,000 for a household of 4. Bay Area counties are higher. Limits update each year — always verify the current limit before assuming eligibility.
Through a CalHFA-approved lender. Not every lender is CalHFA-approved. The lender originates the first mortgage and the MyHome second simultaneously, submits to CalHFA for program review, and closes both at the same time.
Common questions on this topic, answered by Ken Clark Jr., Certified Mortgage Advisor.
MyHome covers down payment, closing costs, or both — up to 3.5% of purchase price when paired with FHA, or 3% when paired with conventional. It's a deferred-payment subordinate (second) loan with no monthly payment.
When the home is sold, the first mortgage is refinanced, or the loan reaches full payoff. There is no monthly payment for as long as you own the home and the first mortgage remains active.
Yes, in some cases. MyHome pairs with the Sacramento County MCC, certain county DPA programs, and seller credits. Layering rules depend on combined assistance amount and lender approval.
660 minimum on conventional CalHFA, 640 minimum on FHA CalHFA. Higher scores get better first-mortgage pricing but the MyHome rules are the same.
Varies by county. Sacramento County: roughly $148,000 for household of 4. Bay Area counties: higher. Confirm current limits on CalHFA's website.
Yes. CalHFA requires an approved homebuyer education course before closing. Many are available online and free.
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