California Down Payment Help That Is Open Right Now

Most California down payment assistance coverage is about Dream For All — the program with the lottery, the two-week window, and the headlines. It is a real program and it is not the one that can help you in September.

The one that can is MyHome, and it is open.

What MyHome is

A deferred-payment junior loan from CalHFA, used for your down payment and closing costs. Per CalHFA:

• With a CalHFA FHA first mortgage — up to the lesser of 3.5% of the purchase price or appraised value
• With a CalHFA conventional first mortgage — up to the lesser of 3% of the purchase price or appraised value

Those percentages are not arbitrary. 3.5% is exactly FHA's minimum down payment and 3% is the conventional floor, which means MyHome is built to cover the down payment entirely. Pair it with seller-paid or lender-paid closing costs and a buyer with very little cash can genuinely close.

Deferred is not the same as forgiven

Read this part twice, because it is where people get surprised.

MyHome is a second lien, not a grant. Deferred means you make no monthly payment on it — not that it goes away. It sits behind your first mortgage and comes due when you sell, refinance, or pay off the first loan.

That is not a reason to avoid it. A deferred second with no monthly payment is a genuinely good deal compared to not buying, and California appreciation has historically covered it many times over. But it does two concrete things you should plan around:

It reduces your net proceeds when you sell. Budget for it rather than discovering it on the settlement statement.

It is a lien on title. Refinancing the first mortgage means dealing with the second — subordinating it or paying it off. That is routine, and it is a step and a cost.

Compare this honestly against Texas's TSAHC program, which lets a buyer choose a true grant. California's MyHome does not have a grant option. Knowing which one you are taking is the whole point.

Who qualifies

Per CalHFA:

• First-time homebuyer. In housing agency terms this generally means you have not owned and occupied a home in the last three years, which brings back more people than the phrase suggests.
• Owner occupancy. It must be the home you live in.
• Homebuyer education. You complete counseling through an approved provider and get a certificate. Budget a few hours, and do it early rather than letting it hold up your closing.
• CalHFA income limits, which vary by county.
• An eligible property — single-family one-unit, including condos and PUDs. Manufactured housing is permitted, and guest houses and granny units may qualify.

We have not printed the income limits here, because CalHFA revises them and they differ by county. Tell us your county and household income and we will check the current figure while you are on the phone.

One thing that catches people: CalHFA is not a direct lender. You cannot apply to CalHFA. MyHome only exists attached to a CalHFA first mortgage originated by an approved lender, and the assistance has to be structured into the loan from the beginning. There is no adding it later.

About Dream For All, since you searched for it

You probably arrived here looking for the other program, so here is the straight answer.

Dream For All's 2026 application window ran February 24 to March 16 and is closed. It is a shared appreciation loan — up to 20% of the purchase price in assistance, in exchange for a share of the home's appreciation when you sell. In 2026 it was aimed at first-generation homebuyers, and CalHFA said it expected to make $150 million to $200 million available, enough for roughly 2,000 households.

Two thousand households, in California. That is the whole story of why it is a lottery.

If you want to be in the next round, the useful work is now rather than in February:

Get your pre-approval letter in hand. CalHFA required applicants to work with an approved lender and have a pre-approval before applying. In a window that short, people who start when it opens do not finish.

Sort out your first-generation documentation early. It is the qualifier most likely to cost you time.

Know your county's income limit. The 2026 limits ranged from roughly $148,000 in Del Norte County to $309,000 in Santa Clara — the spread across California is enormous, and assuming you earn too much is a common and expensive mistake.

We will say plainly what we do not know: CalHFA has not announced a 2027 window, the funding is appropriated rather than permanent, and nothing guarantees it repeats on the same schedule.

We are an approved lender and we track this for our own pipeline. Tell us you want to be in the next round and we will get your pre-approval done now and tell you the day a window opens — which, in a program that took roughly 2,000 households out of a state of 39 million, is most of the battle.

In the meantime, MyHome is open, and for a buyer who needs the down payment covered it is frequently the more practical answer anyway.

For what else makes a California mortgage different — county loan limits, Mello-Roos in your qualifying payment, how escrow works here — see our California page.

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FAQ

How much down payment assistance does CalHFA MyHome provide? Up to the lesser of 3.5% of the purchase price or appraised value with a CalHFA FHA first mortgage, or 3% with a CalHFA conventional first mortgage.

Is MyHome assistance a grant? No. It is a deferred-payment second lien. You make no monthly payment on it, but it is repaid when you sell, refinance, or pay off the first mortgage.

Do I have to be a first-time buyer for MyHome? Yes. Housing agency definitions generally treat you as a first-time buyer if you have not owned and occupied a home in the past three years.

Is CalHFA Dream For All still available in 2026? No. The 2026 application window ran February 24 through March 16 and has closed, and CalHFA has not announced a 2027 window. We are an approved lender and we watch for it — ask us and we will tell you the day one opens. In the meantime MyHome is open year-round and covers the down payment outright.

What are the CalHFA income limits? They vary by county and CalHFA revises them. As an illustration of the range, the 2026 Dream For All limits ran from roughly $148,000 in Del Norte County to $309,000 in Santa Clara County. Ask for the current MyHome limit for your specific county.

Can I apply to CalHFA directly? No. CalHFA is not a direct lender. The assistance is arranged through an approved lender as part of a CalHFA first mortgage, and it has to be structured into the loan from the start.

Is homebuyer education required for MyHome? Yes. You complete counseling through an approved provider and obtain a certificate.