CalHFA & Down Payment Help: What San Diego First-Time Buyers Should Know
The short answer
The California Housing Finance Agency (CalHFA) offers first mortgage programs and down payment assistance for eligible first-time buyers in San Diego County. The two programs buyers ask about most are MyHome Assistance, a deferred junior loan that helps with down payment or closing costs, and Dream For All, a shared appreciation program for first-generation buyers that opens in limited application windows. Income limits apply, and you need to work with a CalHFA-approved lender.
Rookie season in a big-league market
I'm Peter Seroter, an independent mortgage broker with 25 years in the business. I'm based in North Phoenix and licensed in both Arizona and California. My brother lives in San Diego, so I'm out there regularly.
Being a D-backs guy, I'll admit visiting San Diego means spending time in Padres country. This season my son and I made it to 22 D-backs home games together, and those divisional matchups with San Diego are always some of the most intense of the year. Here's the thing every rookie in that rivalry learns quickly: the big leagues don't give you time to figure it out. You show up prepared or you get exposed.
Buying your first home in San Diego is a lot like that. With county median single-family prices above $1 million in 2026, first-time buyers are stepping into one of the toughest markets in the country. The good news is you don't have to do it alone. California has real programs built to help.
What is CalHFA?
CalHFA is the state's housing finance agency. It doesn't lend money directly to the public. Instead, it works through a network of approved lenders that offer CalHFA's first mortgage programs and assistance programs. Your first step is getting pre-approved with a CalHFA-approved lender.
CalHFA programs generally pair a first mortgage (conventional or FHA) with optional down payment or closing cost assistance layered on top.
MyHome Assistance: the everyday option
MyHome Assistance is a deferred-payment junior loan. That means it sits behind your first mortgage, and you typically don't make monthly payments on it. It's repaid later, such as when you sell, refinance, or pay off the first mortgage.
How it generally works:
It's paired with a CalHFA first mortgage.
The funds can go toward your down payment and, in some cases, closing costs.
You must meet first-time homebuyer and CalHFA income requirements for San Diego County.
Homebuyer education is typically required before closing.
Assistance amounts and program terms change, so I always check CalHFA's current program guidelines before running numbers with a client.
Dream For All: big help, limited windows
Dream For All is CalHFA's shared appreciation program. Instead of interest-based repayment, the assistance is repaid when you sell or transfer the home. At that point, the state recovers the original amount plus a share of the home's appreciation. Those repaid funds get recycled to help future buyers.
Key things to know:
It's for first-generation homebuyers, generally meaning your parents did not own a home. You'll provide information about your parents during the application.
Income limits apply and vary by county.
It opens in limited windows. In 2026, applications opened February 24 and closed March 16. Applications were randomly selected, and those who received conditional approval had 90 days to find a home.
CalHFA expected roughly $150 million to $200 million to be available for 2026.
The 2026 window has already closed. If you think you'll qualify in a future round, the best move is getting pre-approved and gathering your documents before the next window opens. When the window is only a few weeks long, being ready on day one makes a difference.
How San Diego first-time buyers should prepare
1. Check the income limits for San Diego County
CalHFA's income limits are set by county. Before you get attached to a program, confirm your household income fits.
2. Complete homebuyer education early
It's typically required, and finishing it ahead of time means one less thing standing between you and a closing date.
3. Know the loan limits
The 2026 conforming limit in San Diego County is $1,104,000 for a single-family home. Program eligibility often ties back to loan type and loan size. See my breakdown of San Diego loan limits for details.
4. Compare assistance against other options
Down payment assistance is a great tool, but it isn't always the best fit. Sometimes a standard low down payment option for qualified buyers, combined with seller concessions, works better. I like to run both side by side so you can see the trade-offs.
5. Look into local programs too
Some cities and agencies in San Diego County run their own assistance programs, and availability changes throughout the year. Ask about local options when you get pre-approved.
For the bigger picture on buying in the region, read my San Diego County buyer's guide.
CalHFA FAQs for San Diego buyers
Can I use CalHFA in San Diego?
Yes. CalHFA programs are available statewide, including San Diego County, subject to county income limits and program guidelines.
Do I have to repay CalHFA down payment assistance?
Generally yes, but usually not monthly. MyHome is a deferred junior loan repaid later, and Dream For All is repaid with a share of appreciation when the home is sold or transferred.
When does Dream For All open again?
CalHFA announces each round separately. The 2026 window ran February 24 through March 16. Watch for announcements and be pre-approved before the next window.
What counts as a first-generation homebuyer?
Generally, someone whose parents did not own a home. CalHFA's program guidelines define the exact criteria.
Ready for your rookie season?
Let's see which programs you qualify for and compare them side by side. I personally handle every file, start to finish.
Data sources: CalHFA Dream For All 2026 announcement (Business Wire, January 2026); CalHFA program summaries from The Mortgage Reports and JVM Lending; San Diego County median price from California Association of Realtors data reported by KPBS (July 2026). Program terms change; confirm current guidelines with CalHFA.
Peter Seroter / Optimized Home Loans | Powered by Barrett Financial Group
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