California Dream For All | Shared Appreciation Loan

UPDATE April 2023: Program has been suspended – fully funded for buyers who have already applied. Explore more down-payment assistance programs from CalHFA.

Buyers who have been waiting to buy a home due to lack of a down payment now have a new program that could be a total game changer. Released by the California Housing Finance Agency, this new loan program allows first-time home buyers to receive up to 20% of a property’s value for downpayment assistance.

To qualify for the program, you must:

• Be a first-time homebuyer (Can not be on title to a property in the last 3 years).
• Occupy the property as a primary residence; non-occupant co-borrowers are not allowed (whoever is on the loan must live in the residence).
• CalHFA borrowers must complete two levels of homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
• Meet CalHFA income limits for this program.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

• Be a single-family, one-unit residence, including approved condominium/PUDs
  • Guest houses, granny units and in-law quarters may be eligible
• Manufactured housing is permitted
• Condominiums must meet the guidelines of the first mortgage*

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Learn more about this program by visiting the CalHFA website!

Learn more about other CalHFA Loan Programs

https://www.calhfa.ca.gov/dream/index.htm