Cal HFA Eliminates the Cap on MyHome Assistance Program
BIG NEWS! Cal HFA has eliminated the cap on the MyHome down payment assistance program. The $15,000 cap is now gone. Eligible borrowers can now receive the full 3.00% or 3.50% of assistance. Please refer to the program details below.
*Effective for all loans reserved and rate locked on or after February 28, 2022, the loan amount cap on the MyHome Assistance Program will be eliminated.
Maximum MyHome Loan Amount
Loan amount not to exceed 3.00% of the sales price or appraised value, whichever is less.
· CalHFA Conventional
· CalPLUS Conventional
· CalHFA USDA
· CalHFA VA
Loan amount not to exceed 3.50% of the sales price or appraised value, whichever is less.
· CalHFA FHA
· CalPLUS FHA
Note: Loans reserved prior to the effective date of February 28, 2022 are subject to the current MyHome $15,000 cap; no exceptions.
Please contact our team for more information or to get your preapproval started for the Cal HFA program!