Down-payment help: a grant, a loan or something else?

Before adding assistance to your purchase budget, identify the program’s legal name, administrator and repayment terms. A helpful headline is only the beginning of that review.

A California example

CalHFA’s MyHome program is a deferred-payment junior loan, not a grant. Its published assistance limits differ by the associated first mortgage: up to the lesser of 3.5% of price or appraised value for CalHFA FHA loans, or 3% for CalHFA conventional loans. Borrower requirements include first-time-buyer eligibility, primary-residence occupancy and homebuyer education.

Questions before you rely on any program

• When does repayment become due: sale, refinance, payoff or another event?
• Does interest accrue, or does the program share in appreciation?
• Does the exact property qualify, including its acreage and intended use?
• Can this assistance be combined with the first mortgage you are considering?
• Are applications being accepted, and are funds available for your closing?

Ask a participating lender to compare a full written estimate with and without assistance. Also ask the city or county housing department whether it administers local purchase or rehabilitation programs; availability must be checked individually.

Official sources & next steps

• CalHFA · MyHome assistance

Checked October 2, 2026. Program funding, eligibility and local requirements can change. Confirm details with the administering agency or qualified professional before making a financial or property decision.