Comparing Refinancing vs Foreclosure Options

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(c) This order is not intended to, and does not, develop any right or advantage, substantive or procedural, enforceable at law or in equity by any celebration versus the United States, its departments, companies, or entities, its officers, staff members, or representatives, or any other individual. (d) The expenses for publication of this order will be borne by the Department of the Treasury.

TRUMP THE WHITE HOUSE, March 13, 2026.

CalHFA provides California first-time buyers 4 working support programs in 2026: MyHome (up to 3.5% of the cost for deposit or closing costs), ZIP (2% to 3% in zero-interest closing expense assistance), MyAccess (a 2.5% deferred loan), and Dream For All (as much as 20% of the price, capped at $150,000, for first-generation purchasers).

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The catch is eligibility: your certifying earnings needs to clear your county's 2026 limit, one customer needs a property buyer education certificate, and MyHome and Dream For All both require novice buyer status. Dream For All is closed as of July 2026, while MyHome and ZIP stay open year-round. This page lays out each program with the 2026 numbers, pulled from the agency's released limits and loan provider matrices.

New Federal Grants to Help Homeowners

Absolutely nothing sours a purchaser much faster than reading about last year's program that stopped taking applications. We'll examine your earnings against the present 2026 table and inform you which state programs your file really supports, at no expense.

Here is how they line up. ProgramWhat it coversAmountInterestKey requirementDown payment or closing costs3.5% (FHA), 3% (traditional, VA, USDA)Easy interest, deferredFirst-time purchaser; any CalHFA initially mortgageClosing costs only2% or 3% of the very first mortgageZero interestCalPLUS first mortgageDown payment or closing costs2.5% of the loan amountDeferredCalPLUS Gain access to initially, coupled with MyHomeDown payment or closing costsUp to 20% of cost, max $150,000 Shared appreciationFirst-generation and novice buyer; window-basedEvery row is a deferred junior loan.

The rest of this page strolls every one in information. CalHFA is the California Housing Financing Firm, and it has actually financed homes because 1975. It is self-supporting rather than taxpayer-funded. The company sells bonds and lends the proceeds. That financing design is why its core programs stay open every year while grant-funded programs reoccur.

The firm never lends to you straight. A CalHFA-approved personal lending institution stems the loan, through loan officers the state has trained. The loan officer matters.

New Housing Grants to Help Homeowners

No application season, no lottery, no race against a funding pool that clears mid-year. That reliability pays off when you plan months ahead. Dream For All is the exception, and we cover its window-based truth below. MyHome is a deferred-payment junior loan, the agency's own term for a 2nd home mortgage with no monthly payments.

On conventional, VA, and USDA loans the cap is 3%. The statewide average crowning achievement approximately $930,000 in May 2026, per the California Association of Realtors. Against that rate the FHA version is worth more than $30,000 of help. One correction, because lots of pages get this wrong and an older version of this one did too.

The program handbook specifies it as a simple-interest loan. Absolutely nothing leaves your pocket month to month. The balance you eventually pay back is primary plus accumulated basic interest. ZIP is the truly zero-interest program. MyHome sits in second lien position behind your very first mortgage. The combined loan-to-value of whatever stacked on the home can not surpass 105%.

2026 Trends in Housing Assistance

Purchasers who desire assistance that forgives instead of delaying ought to compare the Elite Grant, which forgives in just 6 to 36 months on qualifying FHA files. Lenders call these "quiet seconds" because the junior loan makes no regular monthly demand on your budget. Your real estate cost is simply the very first home loan, taxes, and insurance coverage.

ZIP stands for No Interest Program. The loan equals 2% or 3% of your very first mortgage, and it charges no interest.