What CalHFA Actually Offers

CalHFA doesn't give you cash directly. It works through approved lenders — banks, credit unions, and mortgage companies — who offer CalHFA-backed loan products. The main assistance products are: MyHome Assistance Program — a deferred-payment second mortgage that covers up to 3.5% of the purchase price or appraised value for down payment or closing costs. "Deferred" means you don't make monthly payments on it — you repay it when you sell, refinance, or pay off your first mortgage. CalHFA FHA Program — pairs a CalHFA first mortgage with the MyHome assistance, allowing you to finance the FHA-required 3.5% down payment through the second loan. Dream For All Shared Appreciation Loan — provides up to 20% of the purchase price (up to $150,000). When you sell, you repay the original amount plus a share of the home's appreciation. Funding for Dream For All runs out quickly — sometimes within days.