November 5, 2026
How much do you need for a down payment in Palmdale or Lancaster? Maybe less than you think.
A lot of first-time buyers in the Antelope Valley believe they need 20% down. You don't. And depending on your situation, you may be able to get help with both your down payment and your closing costs.
You don't need 20%
Most buyers put down far less than 20%. Low-down-payment loans exist for exactly this reason, and a lender can show you what fits your budget.
CalHFA MyHome: help with down payment and closing costs
CalHFA, the California Housing Finance Agency, offers the MyHome Assistance Program for first-time buyers. It's a loan that can cover up to 3.5% of the purchase price with an FHA-based CalHFA loan, or up to 3% with a CalHFA conventional loan. You can use it for your down payment, your closing costs, or both.
What makes it attractive: payments on the MyHome loan are deferred. You don't make monthly payments on it while you own the home. It's repaid later, when you sell, refinance, or pay off your first mortgage.
Who qualifies
- You're a first-time buyer, meaning you haven't owned a home in the past 3 years
- The home will be your primary residence
- You complete a homebuyer education course
- Your household income is under the limit for the county where the home is. For Los Angeles County, which includes Palmdale and Lancaster, the current limit is $214,000
- You use a CalHFA-approved lender for your first mortgage
Stacking more help
In some cases, additional CalHFA programs can be layered on top of MyHome for extra closing cost help. Ask your lender which ones you'd qualify for.
Can closing costs get covered, so you barely need cash upfront?
Possibly, for some buyers. Between MyHome, any layered assistance and seller credits (sellers can sometimes agree to pay part of a buyer's closing costs), some buyers end up bringing very little cash to closing. That depends on your loan, your lender, and the deal you negotiate. I'll walk you through it and help structure your offer.
What I'd do first
- Talk to a CalHFA-approved lender to see what you qualify for
- Take the homebuyer education course
- Tell me your price range and we'll look at homes in Palmdale, Lancaster and nearby
Want to see if you qualify?
Book a consult and we'll go through the options and next steps.
Sources: CalHFA MyHome Assistance Program; MyHome program handbook; CalHFA income limits.
Program details and limits change. This post is general information, not a loan offer or financial advice. Check current terms at calhfa.ca.gov or with a CalHFA-approved lender.