CalHFA USDA Program with MyHome

What is CalHFA USDA Program with MyHome?

CalHFA USDA Program with MyHome is a first mortgage for homebuyers in California.

• CalHFA USDA Guaranteed first mortgage (30-year fixed) combined with MyHome DPA for eligible rural California homebuyers. MyHome up to 3.5% for closing costs.
• Up to 3.5% of purchase price in assistance.
• no monthly payments on DPA.
• Funding comes from State / Federal USDA.

How much assistance does it provide?

CalHFA USDA Program with MyHome provides assistance worth 3.5% of the purchase price, as set by the program.

• The program asks buyers to contribute 0% (USDA no down payment required).
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

CalHFA USDA Program with MyHome is a first mortgage and is repaid under the terms set by the administering agency.

• 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.

Who qualifies?

CalHFA USDA Program with MyHome is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

CalHFA USDA Program with MyHome limits household income to 115% 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.

What kind of home can it be used for?

CalHFA USDA Program with MyHome caps the purchase price as follows: Contact program for current purchase price limits.

• Eligible property types include Single-family residence in USDA-eligible rural area.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

CalHFA USDA Program with MyHome serves buyers purchasing anywhere in California.

How do you apply?

Applications for CalHFA USDA Program with MyHome go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through CalHFA Lender Portal (CLMS), and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.