CalHFA MyHome
A deferred-payment junior loan that may assist with down payment and closing costs when paired with an eligible CalHFA first mortgage.
California Homebuyer Assistance
Down Payment Assistance
CalHFA, GSFA and other eligible assistance programs may help qualified California homebuyers reduce the upfront cash needed for down payment and closing costs.
CalHFA and GSFA ProgramsDown Payment and Closing-Cost OptionsProgram-Specific Repayment Terms
Featured Video
Explore down payment assistance.
Watch this quick video for a concise introduction to assistance options that may help eligible homebuyers with down payment or closing costs.
Watch the Featured VideoDPA Overview
Assistance can reduce the upfront barrier—but the structure matters.
Down payment assistance may help with the required investment, closing costs or both. It is typically paired with an eligible first mortgage such as conventional, FHA, VA or USDA financing.
Some assistance never requires repayment, while other programs create a recorded second mortgage that must be repaid later. The first mortgage, assistance terms, interest rate, fees and long-term cost should be evaluated together.
Primary California Programs
Start with CalHFA and GSFA.
Both agencies work through participating lenders, but eligibility, first-mortgage options and assistance structures differ.
CalHFA Dream For All
A limited-availability shared-appreciation program for eligible first-generation homebuyers using the required CalHFA structure.
CalHFA First Mortgages
Assistance is paired with an eligible CalHFA conventional or government-insured first mortgage and applicable requirements.
GSFA Platinum
Offers eligible down payment and closing-cost assistance structures through participating lenders and approved first mortgages.
GSFA Golden Opportunities
May provide assistance with eligible FHA, VA or USDA first mortgages and is not universally limited to first-time buyers.
GSFA Gift Options
Some GSFA structures may include gift funds that do not require repayment, subject to current program eligibility and availability.
Eligibility and Qualification
What is evaluated for down payment assistance.
Approval requires both first-mortgage qualification and compliance with the selected assistance program.
Income Limits
Program income limits may depend on county, household, first mortgage and assistance option.
First-Time Buyer Status
Some programs require it, while others may also serve repeat buyers.
Credit and Debts
Credit, debt-to-income ratios and automated or manual underwriting rules apply.
Homebuyer Education
Education and counseling may be required before closing.
Property and Occupancy
The home must meet eligible property, location and primary-residence requirements.
First Mortgage
The assistance must be paired with an approved and compatible first-mortgage product.
Types of Down Payment Assistance
Know whether the assistance is forgiven, deferred or repaid.
The word “assistance” describes several very different financial structures.
Grant or Gift Funds
Funds generally do not require repayment when all program conditions are met. Eligibility and availability can be limited.
Forgivable Second Mortgage
A recorded junior loan may be forgiven gradually or after a set period if ownership and occupancy conditions are satisfied.
Deferred “Silent” Second
No monthly payment may be required, but the balance is usually due upon sale, refinance, payoff, transfer or loss of primary occupancy.
Amortizing Second Mortgage
The assistance is a junior loan with scheduled monthly payments, interest and a defined repayment term.
Shared Appreciation
Repayment may include the original assistance plus an agreed share of the home’s appreciation when a triggering event occurs.
Matched Savings or Local Aid
Employer, nonprofit or local programs may match buyer savings, subsidize costs or provide assistance under separate rules.
Read the note and deed of trust: “No monthly payment” does not mean “no repayment.” Confirm the payoff triggers, interest, forgiveness schedule, appreciation share and refinance restrictions before closing.
Official Program Resources
Check current CalHFA and GSFA offerings.
Program funding, interest rates, income limits, lender participation and assistance structures change. Confirm current details before making an offer or relying on a particular assistance amount.
CalHFA and GSFA are not direct retail lenders for these programs. Homebuyers work with participating loan officers who are approved for the applicable program.
CalHFA and GSFA Comparison
Two agencies, multiple assistance structures.
This high-level comparison is a starting point; current program documents control.
| Feature | CalHFA | GSFA |
|---|---|---|
| Primary Programs | MyHome, Dream For All and eligible CalHFA first mortgages | Platinum, Golden Opportunities and other targeted offerings |
| Assistance Form | Deferred junior loan or shared-appreciation structure, depending on program | Second mortgage and potential gift funds, depending on program |
| First-Time Buyer | Required for major programs such as MyHome and Dream For All | Some programs are not limited to first-time buyers |
| First Mortgage | Eligible CalHFA conventional or government loan | Eligible conventional, FHA, VA or USDA options vary by program |
| Education | Required for applicable first-time-homebuyer programs | Requirements depend on first mortgage and assistance option |
| Availability | Funding and reservation or voucher availability may apply | Program, gift and promotional availability may change |
Costs and Long-Term Planning
Compare the first mortgage and assistance together.
DPA can reduce cash needed today while changing future payoff, refinance or sale decisions.
May differ from standalone financing
The associated interest rate, lender fees and mortgage insurance may differ from a first mortgage without assistance.
Understand future triggers
A deferred balance may become due when you sell, refinance, pay off the first mortgage, transfer title or stop occupying the home.
Compare both options: Ask for a DPA structure and a non-DPA alternative when possible. Review monthly payment, cash-to-close, repayment obligations and total cost.
Property and Transaction Requirements
The home and purchase must fit both programs.
The first mortgage and the assistance provider may impose overlapping requirements.
Primary Residence
Most DPA programs require the buyer to occupy the property as a principal residence.
Eligible Location
Statewide, county, census-tract or local geographic restrictions may apply.
Sales-Price Limits
Some programs cap the purchase price or apply other affordability limits.
Property Type
Eligibility varies for houses, condominiums, multi-unit and manufactured properties.
Appraisal and Condition
The first mortgage appraisal and property standards remain applicable.
Layered Assistance
Combining multiple programs requires approval and compatible lien, contribution and underwriting rules.
Your DPA Loan Process
A clear path from program review to closing.
Successful assistance planning begins before the offer so eligibility, education, funding and repayment terms are understood.
Consultation
Review goals, income, credit, savings, county and first-time-buyer status.
Program Review and
Pre‑Approval
Compare CalHFA, GSFA and first-mortgage combinations.
Education and Offer
Complete required education and confirm property eligibility.
Appraisal and
Underwriting
Complete first-mortgage and assistance-program conditions.
Closing
Review both loans, repayment triggers, funds and disclosures.
Frequently Asked Questions
Common down payment assistance questions.
No. Some assistance is a grant, but many programs use a repayable, deferred, forgivable or shared-appreciation second mortgage.
It is generally a junior loan with no scheduled monthly payment. The balance is still owed and becomes payable when a defined triggering event occurs.
It depends. Many CalHFA programs require first-time-buyer status, while some GSFA programs may serve eligible repeat buyers.
Potentially. The allowed use depends on program rules, the first mortgage and the amount of eligible assistance.
Possibly, but the assistance may need to be repaid because many programs do not allow subordination. Confirm the note and program rules first.
It can. Compare the full first-mortgage pricing, mortgage insurance, assistance terms and total payment with a non-DPA option.
No. Qualification does not guarantee that program funds, gifts, vouchers or reservations will be available when needed.
Experience. Guidance. Trust.
Choose assistance with the exit strategy in mind.
I’m Duane Vizinau, a mortgage loan advisor with more than 25 years of experience in mortgage lending, underwriting, account management and loan structuring. I help buyers compare CalHFA, GSFA, first-mortgage pricing, monthly payment, cash-to-close and future repayment obligations.