CalHFA MyAccess Assistance Program

CalHFA MyAccess Assistance Program is a deferred second loan for homebuyers in California. Silent second mortgage of 2.5% of first mortgage amount for down payment or closing costs. Paired with CalPLUS Access FHA or CalPLUS Access Conventional. Not forgivable. No monthly payments; due on sale, refinance, or payoff. Up to 2.5% of purchase price in assistance. no monthly payments on DPA. Funding comes from State.

CalHFA MyAccess Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, refinance, or payoff of first mortgage. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CalHFA MyAccess Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Minimum 640 FICO score required for all borrowers. A homebuyer education course is required. Residency requirement: Primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Designed for underserved borrowers; must use CalHFA first mortgage; lower credit score threshold (640 FICO).

CalHFA MyAccess Assistance Program limits household income to 120% of the area median income, which varies by county and household size. Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

CalHFA MyAccess Assistance Program caps the purchase price at $765,000. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are eligible.

CalHFA MyAccess Assistance Program serves homebuyers purchasing anywhere in California.

Applications for CalHFA MyAccess Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through CalHFA Lender Portal (CLMS). Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.