Have you heard of the CalHFA MyHome Assistance Program? If you are a first-time buyer shopping in Los Angeles County, you have probably seen it described in a sentence or two as "down payment help" — and then been left to work out the rest with a loan officer.
That said, MyHome is a recorded junior loan with its own term, its own repayment triggers, and its own line on your closing paperwork. This playbook works through the program as CalHFA publishes it, pinned to Los Angeles County and dated October 5, 2026.
What is CalHFA MyHome? MyHome is a deferred-payment, simple-interest subordinate loan that may only be used with a CalHFA first mortgage. It covers down payment and/or closing costs for first-time buyers.
Every figure below comes from one of three CalHFA documents: the MyHome Assistance Program handbook (last revised February 28, 2022), the 2026 Government & Conventional Income Limits sheet (effective June 30, 2026), and Program Bulletin #2026-07 (dated June 25, 2026). For the wider state picture, our California mortgage guide covers the first-mortgage side of the decision.
What Is The 2026 MyHome Income Limit In Los Angeles County?
CalHFA publishes one income limit per county for all of its first mortgages and subordinate mortgages. On the sheet effective June 30, 2026, the Los Angeles County limit is $214,000.
What is the Los Angeles County limit? CalHFA's 2026 Government & Conventional Income Limits sheet, effective June 30, 2026, lists Los Angeles County at $214,000. The same figure applies to FHA and conventional CalHFA loans.
Keep in mind that the limit follows the property, and the handbook's "Maximum Income Limits" paragraph (Section III, Underwriting & Compliance) says the income of all borrowers cannot exceed the limit for the county in which the property is located. A buyer who works in Los Angeles but purchases across the county line is therefore measured against a different number.
For reference, the same June 30, 2026 sheet lists the surrounding counties as follows:
| County | CalHFA income limit (effective 06.30.2026) |
|---|---|
| Los Angeles | $214,000 |
| Orange | $274,000 |
| Ventura | $268,000 |
| Riverside | $210,000 |
| San Bernardino | $210,000 |
Note that the sheet is marked "Excluding Dream For All Shared Appreciation Loan," so these figures should not be carried over to that program. If you are considering Dream For All, confirm its limits with CalHFA or a CalHFA-approved lender.
Which Income Is Measured Against The Limit?
The handbook's "Income Requirements" paragraph (Section III, revised February 28, 2022) instructs lenders to calculate income using investor guidelines, and states that CalHFA will use the lender's credit qualifying income to decide whether the loan exceeds the limit. In addition, it states that income not used by the lender for credit qualifying will not be used by CalHFA.
Which income counts? CalHFA uses the lender's credit qualifying income to test the county limit. Income the lender does not use to qualify the borrowers is not counted by CalHFA.
This matters most for households with variable or business income, because the qualifying figure is the product of underwriting rather than a number on a pay stub. Our walkthrough of self-employed income documentation explains how that qualifying figure is typically built.
Which Reservation Date Controls?
Program Bulletin #2026-07 states that the updated limits are effective for new reservations received on or after June 30, 2026, and that reservations made before that date continue to use the prior limits. Accordingly, the date your lender reserves the loan with CalHFA decides which sheet applies to your file.
How Much Can You Borrow Through MyHome?
The size of the junior loan depends on the type of CalHFA first mortgage it sits behind. The handbook's "Maximum Loan Amount" table (Section III, revised February 28, 2022) has two tiers, reproduced here exactly as published:
| First Mortgage | Maximum MyHome Loan Amount |
|---|---|
| CalHFA FHA or CalPLUS FHA | 3.50% of the sales price or appraised value, whichever is less |
| CalPLUS Conventional, CalHFA Conventional, CalHFA USDA, or CalHFA VA | 3.00% of the sales price or appraised value, whichever is less |
How large is the MyHome loan? Up to 3.50% of the lesser of sales price or appraised value behind a CalHFA FHA or CalPLUS FHA loan, and up to 3.00% behind CalHFA conventional, USDA, or VA loans.
Remember that both tiers are ceilings measured on the lower of two values. If a home appraises below the contract price, the MyHome amount is calculated on the appraisal, and the difference has to come from another source.
What The Funds Can And Cannot Do
The handbook's "Underwriting" paragraph permits MyHome to be used for down payment and/or closing costs. However, it also states that the funds may not be used to pay off borrower debt, and that borrowers may not receive any cash back from the MyHome loan.
How Does MyHome Stack With A First Mortgage And Other Assistance?
MyHome cannot stand alone. The handbook's Program Summary states that it may only be used with a CalHFA first mortgage, and that CalHFA allows qualified homebuyers to layer other down payment assistance loans or grants on top.
The stacking rules in the handbook include the following:
- Second lien position. MyHome must be in second lien position when it is layered with other programs. Any city, county, or employer assistance therefore records behind it.
- CLTV ceiling. The maximum combined loan-to-value cannot exceed 105%, per the "LTV and CLTV" paragraph. The first-mortgage LTV itself follows the mortgage insurer or guarantor and the CalHFA first mortgage guidelines.
- Matching term. The MyHome term matches the term of the CalHFA first mortgage, not to exceed thirty years. Payments are deferred for the life of the first loan.
- First-mortgage rules govern the rest. Minimum credit score, maximum debt-to-income ratio, and property requirements all follow the applicable CalHFA first mortgage handbook. Confirm those figures with your lender, as they differ by loan type.
Can MyHome be layered? Yes. It must be paired with a CalHFA first mortgage, may be combined with other assistance, must stay in second lien position, and the combined loan-to-value cannot exceed 105%.
All of the above means that a Los Angeles County buyer adding local assistance needs the local program to accept third position. That is a question for the agency sponsoring the local funds, and it is worth asking before an offer is written.
When Does The Deferred Loan Come Due?
Deferred does not mean forgiven. The handbook's "Term" paragraph states that repayment of principal and interest is due and payable at the earliest of the following events:
- Transfer of title. A change in ownership ends the deferral.
- Sale of the property. The balance is paid from sale proceeds.
- Payoff of the first loan. Paying the first mortgage in full makes the junior loan due as well.
- Refinance of the first loan. A refinance is a repayment event, which is a real cost to weigh against any future rate savings.
- Notice of Default. The formal filing and recording of a Notice of Default, unless rescinded, also triggers repayment.
When is MyHome repaid? At the earliest of a transfer of title, a sale, the payoff or refinance of the first loan, or a recorded Notice of Default. Until then, no monthly payment is due on it.
In addition, the loan carries simple interest, so the payoff grows by the same dollar amount each year rather than compounding. The handbook does not publish the rate, so ask your lender for the current MyHome note rate and confirm it against CalHFA's program page.
A Worked Example: One 2026 Los Angeles County Purchase
Consider two first-time buyers purchasing a condominium in Los Angeles County with a contract price of $520,000 and an appraised value of $525,000. Their lender's credit qualifying income is $168,000, which is under the $214,000 county limit on the June 30, 2026 sheet.
Because the sales price is the lower of the two values, MyHome is measured on $520,000. Behind a CalHFA FHA first mortgage the ceiling is 3.50%, or $18,200, while behind a CalHFA conventional first mortgage it is 3.00%, or $15,600.
| Line | CalHFA FHA path | CalHFA conventional path |
|---|---|---|
| Lesser of price or appraised value | $520,000 | $520,000 |
| MyHome ceiling | 3.50% = $18,200 | 3.00% = $15,600 |
| County income limit (06.30.2026) | $214,000 | $214,000 |
| Qualifying income in this example | $168,000 | $168,000 |
Assume, for illustration only, a base first mortgage of $501,800 on the FHA path. Together with the $18,200 junior loan, the combined liens equal $520,000, or a 100% combined loan-to-value before any financed mortgage insurance premium — under the handbook's 105% ceiling.
Next, consider the payoff. At an assumed, illustrative simple interest rate of 3%, the $18,200 loan would accrue $546 per year, so a sale after seven years would require approximately $22,022 to retire it.
Illustrative figures. The first mortgage amount and the 3% junior-loan rate above are assumptions used to show the arithmetic. Your actual note rate, loan amount, and mortgage insurance depend on your credit, LTV, term, and lender.
The buyers still face the costs that MyHome does not address, such as reserves and the tax bills that follow a California purchase. Our explainer on the California supplemental property tax bill covers the reassessment that typically arrives after closing.
Where Does MyHome Appear On The Closing Disclosure?
A purchase with MyHome produces two sets of closing paperwork, because the junior loan is its own credit transaction. On the first mortgage's Closing Disclosure, the junior loan shows up as money credited toward your side of the purchase.
The CFPB's official interpretation of Regulation Z, comment 38(j)(2)(vi)-2 (as published by the CFPB and read on October 5, 2026), states that new loans not otherwise disclosed under § 1026.38(j)(2)(iii) or (iv) must be disclosed under § 1026.38(j)(2)(vi) on the first-lien Closing Disclosure. In practice, that places the MyHome principal amount, with a brief description, in the borrower's Summaries of Transactions table among the amounts paid already by or on behalf of the borrower.
In our example, the buyers should therefore find an $18,200 entry identified as the CalHFA MyHome loan on page 3 of the first-lien form. If the entry is missing, mislabeled, or shows a different amount than the junior note, raise it with the lender and the settlement agent before signing.
What Does The Lender Have To Do?
Much of the MyHome workload falls on the lender, and knowing the list helps you choose one. Here is what the handbook and the 2026 bulletin require:
- Be CalHFA-approved. The program is only available through a CalHFA-approved lender. Brokers must work through a CalHFA-approved wholesale lender.
- Reserve the loan. The reservation date fixes which income limits apply, per Program Bulletin #2026-07.
- Calculate qualifying income. The lender calculates income under investor guidelines, and CalHFA tests that figure against the county limit.
- Confirm first-time homebuyer status. The handbook defines a first-time homebuyer as a borrower with no ownership interest in a principal residence, and who has not resided in a home owned by a spouse, during the previous three years.
- Verify occupancy. All borrowers must occupy the property as their primary residence within sixty days of closing. Non-occupant co-borrowers and co-signors are not allowed.
- Collect the education certificate. Homebuyer education is required, with details set in the first mortgage handbook. CalHFA's program page lists eHome, NeighborWorks America, and HUD-approved housing counseling agencies as providers.
- Hold the fee line. The handbook's "Fees" paragraph caps the lender's total processing fee at $250, with normal customary third-party fees allowed.
Overall, a lender who closes CalHFA loans regularly will handle these steps as routine. You may want to consider asking any loan officer how many CalHFA files they have closed in Los Angeles County in the past year.
Is MyHome The Right Fit For Your Purchase?
MyHome suits a first-time buyer under the county income limit who has the income to carry a payment but has not accumulated the full cash to close. It is less suited to a buyer who expects to refinance or sell quickly, since both events make the junior loan and its accrued interest due.
Of course, buyers above the $214,000 limit, or purchasing above conforming loan sizes, are looking at a different set of tools altogether. Our guide to jumbo loans in Los Angeles picks up where CalHFA's limits leave off.
Finally, if part of your cash to close is coming from a business account rather than savings, review the documentation rules in our post on using business funds for a down payment before you apply. Then contact a CalHFA-approved lender and ask for a MyHome reservation quote dated against the current limits sheet.
Frequently Asked Questions
Can a parent co-sign a CalHFA MyHome loan without living in the home?
No. The MyHome handbook (revised February 28, 2022) does not allow non-occupant co-borrowers or non-occupant co-signors. All borrowers must occupy the home as their primary residence within sixty days of closing.
Does refinancing the first mortgage trigger repayment of MyHome?
Yes. The handbook lists refinance of the first loan as a repayment event, alongside transfer of title, sale, payoff of the first loan, and a recorded Notice of Default. Principal and accrued simple interest come due at the earliest of these.
How much can a lender charge for processing a MyHome loan?
The handbook's Fees paragraph caps the lender's total processing fee at $250. Normal customary third-party fees are allowed in addition, so review the Loan Estimate for the junior loan line by line.
Can MyHome funds be used to pay off a car loan or credit card to qualify?
No. The handbook states that MyHome funds may not be used to pay off borrower debt, and that borrowers may not receive any cash back from the loan. The funds are limited to down payment and/or closing costs.
Who counts as a first-time homebuyer for MyHome?
A borrower who has not had an ownership interest in any principal residence, or resided in a home owned by a spouse, during the previous three years. All borrowers, including co-borrowers, must meet the definition and live in the home.
This article is for informational purposes and is not financial / mortgage / contractor advice. Consult a licensed professional in your jurisdiction.
By The HomeWealthMap Editors. Program figures verified against CalHFA's published documents on October 5, 2026; confirm current limits and terms with CalHFA or a CalHFA-approved lender before relying on them.