Where this option fits
MyHome is paired with an eligible CalHFA first mortgage. It is a loan, not automatically free money. Review income limits, borrower and property requirements, repayment terms, and available funding.
Treat MyHome as a junior loan
CalHFA describes MyHome as deferred-payment subordinate financing paired with an eligible CalHFA first mortgage. Confirm current rules, approved lender participation, income limits, education, interest, and repayment triggers before planning around it.
What we will review
- CalHFA first-mortgage eligibility
- Homebuyer education and income limits
- Repayment triggers and total financing costs
- When does the junior balance become due?
- Is funding available and can this lender deliver the program?
Compare costs over your own timeline
Ask when payment is due, whether interest accrues, what forgiveness requires, and what happens at sale, refinance, transfer, or a change in occupancy. Deferred payment does not mean the debt disappears.
Ask for a written comparison of upfront cash, the full payment, any financed costs, and remaining debt at the same future date. Keep your emergency savings and likely moving plans in the decision.
Questions borrowers ask
Is MyHome a grant?
No. It is a loan with its own terms. Review current CalHFA documents for the repayment requirements.
What should I send to get started?
Start with your goal, property location, approximate numbers, and timeline. Use the secure application channel for identity, income, and account records; do not email sensitive documents through an inquiry form.
Further reading & sources
Prepared by Aaron Clowes · NMLS #200900. Editorial sources checked October 27, 2026. Examples are hypothetical; actual costs, terms, eligibility, and program availability vary. This educational guide is not a rate quote or commitment to lend.