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CalHFA Loans (up to 104% CLTV)

Program Eligibility

Am I eligible to apply for this program?

Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the MyHome Assistance Program.

Borrower Requirements

  • Be a first-time homebuyer. See the definition of a first-time homebuyer.
  • Occupy the property as a primary residence; non-occupant co-borrowers are not allowed.
  • CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
  • Meet CalHFA income limits for this program.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

  • Sales price of the home cannot exceed CalHFA's sales price limits established for the county in which the property is located
  • Be a single-family, one-unit residence, including approved condominium/PUDs
  • Manufactured housing is permitted
  • Condominiums must meet the guidelines of the first mortgage
  • There is a five acre maximum on the size of the property

Mortgage Credit Certificate

The Mortgage Credit Certificate (MCC) is a federal tax program that helps you lower your taxes and increase your disposable income. You can convert up to 20% of your mortgage interest into dollar-for-dollar tax credit!

CalPLUS with ZIP:

CalPlus with ZIP combine a fixed rate mortgage with Down payment Assistance into one package. Best of all, NO DOWN PAYMENT IS REQUIRED!

MyHome Assistance Program:

My home makes owning a home more affordable by giving up to 3.5% of the purchase price to first-time homebuyers to be using for your down payment and/or closing costs!

(Any borrower that has not owned a home in the last 3 years is considered a First-Time homebuyer.)

*In the case of conflicting guidelines, the lender must follow the more restrictive.


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