Comparing Refinancing vs Short Sale 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 party versus the United States, its departments, companies, or entities, its officers, staff members, or representatives, or any other person. (d) The expenses for publication of this order shall be borne by the Department of the Treasury.

TRUMP THE WHITE HOUSE, March 13, 2026.

CalHFA gives California first-time purchasers four working assistance programs in 2026: MyHome (approximately 3.5% of the cost for down payment or closing expenses), ZIP (2% to 3% in zero-interest closing cost assistance), MyAccess (a 2.5% deferred loan), and Dream For All (as much as 20% of the rate, topped at $150,000, for first-generation buyers).

apfsc.org

The catch is eligibility: your certifying income needs to clear your county's 2026 limitation, one customer needs a property buyer education certificate, and MyHome and Dream For All both need newbie buyer status. Dream For All is closed since 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 published limitations and lending institution matrices.

Proactive Mortgage Management Strategies for 2026

Absolutely nothing sours a buyer quicker than checking out about in 2015's program that stopped taking applications. Free evaluation Tell us your county, credit, and rough price range. We'll inspect your income versus the existing 2026 table and tell you which state programs your file really supports, at no charge. Four programs, one fast contrast.

Here is how they line up. ProgramWhat it coversAmountInterestKey requirementDown payment or closing costs3.5% (FHA), 3% (standard, VA, USDA)Simple interest, deferredFirst-time purchaser; any CalHFA initially mortgageClosing expenses only2% or 3% of the very first mortgageZero interestCalPLUS initially 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 purchaser; window-basedEvery row is a deferred junior loan.

The rest of this page walks every one in detail. CalHFA is the California Real Estate Finance Agency, and it has funded homes given that 1975. It is self-supporting instead of taxpayer-funded. The company sells bonds and lends the profits. That funding design is why its core programs stay open every year while grant-funded programs reoccur.

Here is the part most buyers miss out on. The firm never provides to you straight. A CalHFA-approved private lending institution originates the loan, through loan officers the state has trained. The loan officer matters. One who seldom touches these files will not know which pairings fit your circumstance. The bond-funded core runs constantly.

2026 Changes in Mortgage Relief

No application season, no lotto, no race against a funding swimming pool that empties mid-year. That reliability pays off when you plan months ahead. Dream For All is the exception, and we cover its window-based reality listed below. MyHome is a deferred-payment junior loan, the agency's own term for a 2nd mortgage without any month-to-month payments.

On conventional, VA, and USDA loans the cap is 3%. The statewide typical crowning achievement approximately $930,000 in May 2026, per the California Association of Realtors. Against that price the FHA version deserves more than $30,000 of help. One correction, since a lot of pages get this incorrect and an older version of this one did too.

The program handbook defines it as a simple-interest loan. ZIP is the truly zero-interest program. MyHome sits in 2nd lien position behind your very first mortgage.

Proactive Mortgage Planning Strategies for 2026

Lenders call these "quiet seconds" because the junior loan makes no regular monthly need on your budget plan. Your real estate cost is simply the first home loan, taxes, and insurance.

For the majority of purchasers that beats draining cost savings at closing. The deferred balance grows slowly, and California equity has traditionally grown quicker, though no one can assure that pattern for any given year or neighborhood. ZIP stands for No Interest Program. It is closing expense assistance in its purest type. The loan equals 2% or 3% of your very first mortgage, and it charges no interest.