California Housing Finance Agency (CalHFA)
As a participating lender with the California Housing Finance Agency (CalHFA), qualified borrowers could receive a competitive fixed-rate home loan with down payment or closing cost assistance of up to 3.5% of the sales price or appraised value, whichever is less, or up to 3% of the loan amount depending on the program.
Program Features- MyHome Assistance Program (MyHome)1 offers up to 3.5%2 of the sales price or appraised value, whichever is less in down payment or closing cost assistance when combined with the CalHFA FHA or CalPLUS FHA first mortgage
- For CalPLUS Conventional, CalHFA Conventional, CalHFA USDA, or CalHFA VA first mortgage, MYHome offers up to 3%3 of the sales price or appraised value, whichever is less in down payment or closing cost assistance
- Programs available for first-time homebuyers purchasing a primary residence
- Maximum income limits apply and vary by county
2. Example of CalHFA FHA Loan with MyHome 3.5% DPA with $155,250 sales price. $150,000 loan amount with 3.5% down (provided by CalHFA MyHome). 30-year fixed rate loan with zero points, monthly payment of $923.58 (P&I only). Monthly payments do not include required mortgage insurance, taxes, insurance premiums or other applicable escrows. Actual payment amount will be higher. Interest rate of CalHFA FHA loan 6.250%, APR of 6.382%. Rates as of 4/10/2023.
3. Example of CalPlus Conventional Loan with MyHome 3% DPA with $154,500 sales price. $150,000 loan amount with 3% down (provided by CalHFA MyHome). 30-year fixed rate loan with zero points, monthly payment of $935.80 (P&I only). Monthly payments do not include required mortgage insurance, taxes, insurance premiums or other applicable escrows. Actual payment amount will be higher. Interest rate of CalPlus loan 6.375%, APR of 6.508%. Rates as of 4/10/2023.
All loans subject to credit review and approval. This is not a commitment to lend. Rates, fees, other charges subject to change. Other terms and conditions may apply.
