The CalHFA VA Loan with MyHome Program is designed specifically for eligible veterans and active-duty service members, providing an excellent opportunity to achieve homeownership with minimal upfront costs. By combining the benefits of a VA loan, which offers no down payment, with MyHome assistance for closing costs, this program makes homeownership more accessible and affordable.

The CalHFA VA Loan is a 30-year fixed-rate mortgage backed by the U.S. Department of Veterans Affairs, offering 100% financing. When paired with the MyHome Assistance Program, veterans can receive financial help to cover closing costs, making it easier to transition into homeownership.

Key Features:

✅No Down Payment Required: VA loans provide 100% financing, eliminating the need for a down payment.

✅Closing Cost Assistance: MyHome offers up to 3% of the purchase price, which can be used to cover closing costs.

✅No Monthly Mortgage Insurance: Unlike conventional and FHA loans, VA loans do not require monthly mortgage insurance, helping to keep monthly payments lower.

✅Flexible Credit Requirements: A minimum credit score of 640 is required to qualify.

✅Competitive Interest Rates: VA loans typically offer lower interest rates compared to other loan types.
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To qualify for the CalHFA VA Loan with MyHome, applicants must meet the following criteria:

✅Veteran or Active-Duty Status: A valid Certificate of Eligibility (COE) from the VA is required.

✅First-Time Homebuyer Status: You must not have owned a home in the past three years.

✅Income Limits: Your household income must fall within CalHFA’s county-specific limits.

✅Primary Residence Requirement: The home must be your primary residence.

✅Credit Score Requirements: A minimum of 640 for VA loans.
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▶️Affordable Homeownership: No down payment and assistance with closing costs help veterans transition into homeownership with minimal upfront expenses.

▶️Lower Monthly Payments: No monthly mortgage insurance means more of your money goes toward your home.

▶️Deferred Payment Assistance: MyHome assistance requires no monthly payments and is due only when you sell, refinance, or pay off the first mortgage.

▶️Veteran-Focused Benefits: Designed specifically to support those who have served our country.​

While this program offers numerous benefits, there are a few factors to keep in mind:

▶️Loan Repayment Obligation: MyHome assistance must be repaid when the home is sold, refinanced, or the primary mortgage is paid off.

▶️Closing Costs Responsibility: Buyers need to cover any remaining closing costs not covered by MyHome assistance.

▶️Property Eligibility: Certain property types, such as manufactured homes, may have additional requirements.

Buyers can check current interest rates for all CalHFA programs by visiting CalHFA's official rates page.

✅Consult with a Mortgage Professional: Let us help determine if the CalHFA VA Loan with MyHome is the right fit for you.

✅Prequalification Process: Understand how much assistance you qualify for.

✅Start Your Home Search: Work with a VA-approved real estate agent to find eligible properties.

Before making a final decision, consider other CalHFA assistance programs, such as:

- CalHFA Dream for All – A shared appreciation loan offering significant upfront assistance.

- GSFA Platinum – Provides forgivable loan options with flexible qualification criteria.

- CalHFA FHA Options – Another great low-cost option for first-time buyers.



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