CalHFA offers first-mortgage and assistance programs for qualifying California homebuyers. The right comparison includes the main mortgage, the assistance loan and when that assistance has to be repaid.
Assistance is not automatically a grant
For example, CalHFA's MyHome program is a deferred-payment junior loan. Borrower, property, education and first-mortgage requirements apply. Current income limits and program terms should be checked for your situation.
Compare the complete loan structure
Ask about the cash needed to close, the payment on the first mortgage, the balance of any assistance loan and what happens when you sell or refinance. Older figures on the former website should not be treated as current eligibility limits.
Sources: CalHFA MyHome and CalHFA homebuyer programs.
Compare down payment assistance options or ask the team about your situation.