If you have been dreaming of owning your own home in California but feel like the down payment is an impossible mountain to climb, you aren't alone. As we move through May 2026, the real estate market is showing signs of stabilization, but the barrier to entry: cash: remains the biggest hurdle for many families.
At Maya Team Inc., we specialize in helping Primeros Compradores (first-time homebuyers) navigate the complex world of real estate. Whether you are looking in Buena Park, Cerritos, or anywhere in Southern California, you need a plan that doesn't involve draining your entire life savings just to get the keys. This is where the California Housing Finance Agency (CalHFA) steps in with its latest tool: the MyAccess program.
Many people confuse the various CalHFA products, but MyAccess is specifically designed to bridge the gap for those who need a little extra help with their down payment or closing costs. Here are the five most important things you need to know about this game-changing program.
1. What Exactly is the CalHFA MyAccess Program?
The short answer: MyAccess is a "silent" second mortgage that provides you with up to 2.5% of the sales price to be used toward your down payment or closing costs.
When we say "silent," we mean that this isn't like a traditional loan where you start making payments immediately. Instead, the loan is deferred. You don't have to worry about an extra monthly bill piling on top of your primary mortgage. This program is a massive win for Primeros Compradores who have the income to afford a monthly mortgage payment but haven't quite saved up the tens of thousands required for a traditional 3.5% or 5% down payment.
At Maya Team Inc., we often work with families who are excellent at managing their monthly budgets but struggle with the "initial hit" of homeownership. MyAccess solves that problem by providing liquidity at the closing table.
2. Zero Interest and Zero Monthly Payments
One of the biggest anxieties buyers have when taking "assistance" is the fear of hidden costs. Many people ask us at REAZ Realty, "What's the catch? Is the interest rate on the second loan going to eat me alive?"
With CalHFA MyAccess, the answer is a resounding no. This loan carries a 0% interest rate.
Because there is no interest accruing and no monthly payments required, the amount you owe stays the same from the day you close until the day you pay it back. This is fundamentally different from other assistance programs that might have a shared appreciation component or high-interest rates on the second lien. It allows you to build equity in your home faster because you aren't fighting against a growing debt on your secondary loan.
3. The "Silent" Loan Eventually Needs to Be Repaid
While you don't make monthly payments, it is important to remember that this is a loan, not a grant. You will eventually need to pay back the 2.5% you borrowed.
There are three main triggers that require you to repay the MyAccess loan:
- Selling the Home: If you decide to move and sell the property, the loan amount is paid back from the proceeds of the sale.
- Refinancing: If you decide to refinance your primary mortgage to get a lower rate or take cash out, you will typically need to pay off the MyAccess loan at that time.
- End of Loan Term: If you stay in the house for the full 30 years and pay off your primary mortgage, the MyAccess loan becomes due.
Understanding these triggers is key to long-term financial planning. Our team at Maya Team Inc. always sits down with our clients to look at their 5-year and 10-year goals to ensure this program aligns with their future plans.
4. Eligibility Requirements: Who Can Apply?
Not everyone can walk into a bank and ask for a MyAccess loan. Because this is a state-funded program, there are specific guidelines you must follow. Working with an experienced Prestamista (lender) who understands Prestamos CALHFA is crucial to ensure you don't waste time on an application that won't be approved.
Here are the baseline requirements:
- First-Time Homebuyer Status: You generally cannot have owned a home in the last three years.
- Credit Score: While CalHFA is flexible, you typically need a minimum FICO score (usually around 640 for FHA and 660 for Conventional, though this can vary by lender).
- Income Limits: This program is designed for low-to-moderate-income families. Each county in California has its own income cap. For example, the limits in Orange County are different from those in Riverside.
- Homebuyer Education: You will need to complete a CalHFA-approved homebuyer education course. It’s actually a great resource that helps you understand the responsibilities of being a homeowner.
If you aren't sure where you stand, we recommend visiting nas.com/mayateaminc to connect with our preferred lenders who specialize in these specific programs.
5. You Must Pair It with a CalPLUS Loan
You cannot use the MyAccess assistance with just any random mortgage from a big-box bank. It must be paired with a CalPLUS FHA or CalPLUS Conventional first mortgage.
The CalPLUS mortgages often come with slightly higher interest rates than a standard mortgage, but they are designed to include the closing cost assistance features that make homeownership possible for those with limited cash. This is the trade-off: you might pay a slightly higher monthly rate in exchange for keeping thousands of dollars in your pocket at the start.
For many of our clients at Maya Team Inc., this trade-off is worth it. It’s the difference between buying a home today or waiting another five years to save up enough cash: by which time home prices may have risen even further.
Why Working with Maya Team Inc. and REAZ Realty Matters
Navigating Prestamos CALHFA requires more than just a standard real estate agent. It requires a team that understands the "under the hood" mechanics of state-funded assistance. At REAZ Realty, we pride ourselves on being authoritative educators. We don't just want to sell you a house; we want to make sure you understand the debt you are taking on and the benefits you are receiving.
When you work with Maya Team Inc., we help you coordinate between your Prestamista, the state agencies, and the sellers. In 2026, sellers are often more open to concessions, and we can sometimes negotiate for the seller to pay your remaining closing costs, making it possible to get into a home with almost zero money out of pocket.
Quick Checklist: Are You Ready for MyAccess?
- Have you checked your credit score recently? (Aim for 640+).
- Is your annual household income below the county limit?
- Are you a first-time homebuyer (or haven't owned in 3 years)?
- Do you have enough saved for "earnest money" and inspections? (Even with assistance, you’ll need some skin in the game).
- Have you spoken to a CalHFA-approved specialist?
The Bottom Line
The CalHFA MyAccess program is one of the most powerful tools available for Primeros Compradores in California today. It removes the "cash gap" that prevents so many hardworking families from building generational wealth through real estate.
Don't let the fear of a down payment stop you from exploring your options. The market is moving, and with the right team behind you, that dream of a backyard in Buena Park or a quiet street in Cerritos is much closer than you think.
Ready to see if you qualify?
Stop scrolling and start planning. Connect with us today to get a personalized breakdown of your eligibility and see how Maya Team Inc. can get you into your first home using the MyAccess program.
Contact Us:
- Website: nas.com/mayateaminc
- Follow us for daily tips: @mayateaminc
We are here to help you turn "maybe one day" into "move-in day!" Let’s get to work.
