CalHFA MyHome Assistance Program

By Stephen | May 30, 2025

MyHome Assistance Program—with Stephen Palermo

The MyHome Assistance Program supports first-time buyers with crucial financial help. I’ll explain how this Visalia housing loan solution works and who qualifies.

Who Can Qualify

The MyHome Assistance Program is for first-time buyers in California. You must live in the home as your main residence. Buyers must complete a homebuyer education course and meet CalHFA income limits.

This program fits well with Visalia housing loan solutions. I help buyers meet these rules and succeed.

Key Loan Features

This program offers a deferred-payment junior loan to help with your down payment or closing costs.

FHA loans: up to 3.5%

Conventional loans: up to 3.0%

The loan amount is based on the home’s price or appraised value—whichever is lower.

Property Must Qualify for the MyHome Assistance Program

The home must meet specific rules to qualify under this Visalia housing loan solution:

  • One-unit residence (including condos and PUDs)
  • Manufactured homes are allowed with FHA first mortgage
  • Must follow CalHFA property price limits
  • No leaseholds, land trusts, or co-ops

Stephen Palermo with Gold Standard Mortgage, your trusted Visalia loan officer, will confirm if your dream home qualifies.

Education Course Required for the MyHome Assistance Program

First-time buyers must finish a homebuyer education course. CalHFA accepts:

  • eHome online course (must include 1-on-1 counseling)
  • In-person or virtual classes through HUD-approved agencies

This step is crucial. I guide you through it to stay on track with your Visalia housing loan solutions.

Combined Loan-to-Value Limit

The CLTV (combined loan-to-value) ratio can’t go over 105% with this assistance program.

That means the total of all loans on the home, including this one, can’t exceed 105% of the home’s value.

I ensure you stay within limits, helping you qualify smoothly.

Match the First Mortgage

The MyHome loan matches the term of your CalHFA first mortgage. That means:

  • No payments due until the home is sold or refinanced
  • No interest while you live there
  • This makes your monthly costs lower. That’s why many buyers trust me as their Visalia loan officer.
  • Program is Not Direct

CalHFA doesn’t lend money directly. Loans are processed through trained, approved loan officers.

As Stephen Palermo with Gold Standard Mortgage, your trusted Visalia loan officer, I’m here to walk you through it.

Maximum Loan Amount for the MyHome Assistance Program

Here’s how much help you can expect:

  • FHA: 3.5% of the price or appraised value
  • Conventional: 3.0%
  • That money goes toward down payment or closing costs.

Why Choose This Program

This program offers relief to new buyers in California. I provide Visalia housing loan solutions that make this program easy to access.

You benefit from:

  • No payments now
  • Lower upfront costs

Trusted local help from a top Visalia loan officer

How to Apply Today

You don’t apply directly through CalHFA. I help you apply and make sure your paperwork is right.

To apply, gather:

  • Pay stubs
  • Bank statements
  • Tax returns
  • Job history

I’ll take it from there. As your trusted Visalia loan officer, I simplify the steps for you.

What Buyers Ask Most

Q: Can I use this with any loan?
A: Only with CalHFA first mortgages.

Q: Is this a grant?
A: No. It’s a deferred loan—repaid when you sell, refinance, or pay off your first mortgage.

 

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