CalPLUS Access

The credit score requirement depends on whether you choose the FHA or Conventional version of the program. For CalPLUS Access FHA, the minimum credit score is generally 640, though it rises to 660 for manufactured homes or manually underwritten loans. For CalPLUS Access Conventional, the minimum score is typically 680, although borrowers with income below the “HomeReady” 80% Area Median Income limit may qualify with a score of 660. Lenders always use the middle credit score of the lowest-scoring borrower to determine eligibility.

Yes, education is mandatory. At least one occupying first-time homebuyer on the loan must complete an 8-hour homebuyer education course. This requirement ensures you understand the financial responsibilities of homeownership and the specific terms of the subordinate financing. You can satisfy this requirement by taking an online course (such as eHome) or attending an in-person or virtual session through NeighborWorks America or a HUD-approved Housing Counseling Agency. You must obtain your certificate of completion before your loan can be fully approved.

You can refinance, but it generally requires paying off the assistance loans. CalHFA typically does not allow “subordination,” which is the process of letting a second or third loan stay in place while you replace the first mortgage. Therefore, if you want to refinance in the future to lower your interest rate, you will likely need to have enough equity in the home (or cash on hand) to pay off the first mortgage, the MyHome loan, and the MyAccess loan in full as part of the new transaction.

Yes, all CalHFA programs enforce strict income caps to ensure the assistance goes to low-to-moderate income households. The total income of all borrowers cannot exceed the CalHFA Income Limits for the county where the property is located. For example, in 2025, the annual limit for counties like Alameda and Contra Costa is $316,000, while Los Angeles is $211,000. Lenders calculate your income using standard guidelines (Fannie Mae or FHA) for credit qualifying purposes. Income not used to qualify for the loan generally does not count toward the program cap.

Yes, the CalPLUS Access program permits the purchase of manufactured homes, provided they meet strict criteria. The home must be a double-wide or larger (single-wide homes are ineligible) and must be on a permanent foundation. Financial requirements are tighter for these purchases: you typically need a minimum credit score of 660 and your Debt-to-Income (DTI) ratio is generally capped at 45%. Additionally, for FHA loans, manual underwriting is not permitted on manufactured homes. Leasehold estates are generally not allowed for manufactured homes under this program.

Yes. Because the CalPLUS Access program relies on subordinate financing (MyHome and MyAccess), all borrowers on the loan must meet the definition of a first-time homebuyer. CalHFA defines this as anyone who has not held an ownership interest in a principal residence (the home you live in) during the three years immediately preceding the purchase of the new home. If you are married, this requirement applies to your spouse as well; if they have owned a principal residence in the last three years, you would not be eligible for this program.

Both the MyHome and MyAccess subordinate loans carry a 1.00% simple interest rate. Crucially, you do not make monthly payments on these assistance loans. Repayment is deferred for the life of the first mortgage. You are only required to repay the principal balance plus the accrued simple interest when you sell the property, refinance your first mortgage, transfer the title, or pay off the first loan in full. This deferred structure helps keep your monthly housing obligations lower compared to a second mortgage that requires immediate monthly installments.

You receive two separate layers of assistance calculated on different bases. First, the MyHome loan provides up to 3.0% (for Conventional) or 3.5% (for FHA) of the sales price or appraised value to cover your minimum down payment. Second, the MyAccess loan provides an additional fixed amount equal to 2.50% of your first mortgage total loan amount. When combined, these two sources provide substantial capital, allowing you to enter the market with very little of your own savings, though you must still qualify for the monthly payments on the first mortgage.

The primary difference lies in the third loan provided. The standard CalPLUS program comes with the Zero Interest Program (ZIP), which provides 0% interest funds that can only be used for closing costs—not the down payment. In contrast, the CalPLUS Access program comes with the MyAccess loan. MyAccess funds are more flexible; they can be used for the down payment and/or closing costs. This makes the “Access” version a better choice for borrowers who need extra help reaching the minimum down payment threshold rather than just covering closing fees.

The CalPLUS Access program is a comprehensive financing package designed to provide maximum upfront assistance to first-time homebuyers. Unlike a standard mortgage, this program bundles three separate loans into a single transaction: a 30-year fixed-rate first mortgage (available in both Conventional and FHA versions), the MyHome Assistance loan, and the MyAccess loan. By “stacking” these loans, qualified borrowers can often cover their entire down payment and a significant portion of their closing costs, minimizing the amount of out-of-pocket cash required to purchase a home.