California Dream For All

CalHFA Dream for All Down Payment Assistance

  • Available in the state of California
  • All applicants will be put into a lottery drawing that will take place in April of 2024
  • If an applicant is drawn as a participant they will have 60 days to have an accepted offer on a home.
  • 30 Year First Fannie Mae Conventional Product
  • 20% Shared Appreciation Down Payment Assistance (DPA)
  • DPA amount based on up to 20% of the lower of the sales price or appraised value NOT to exceed $150K
  • DPA requires 15% Shared Appreciation be repaid at the time of refinance or sale + Down Payment Funds
  • No monthly payment required for DPA
  • DPA to be used for down payment or closing costs (no funds allowed to borrower)
  • Minimum 70% LTV/CLTV
  • Maximum 105% CLTV
  • 45% DTI under 660 credit score
  • First-time homebuyer required
  • First-generation buyer… defined as someone’s parents who did not own a home or someone who grew up in foster
  • Owner Occupied Purchases only
  • CalHFA Income Limits apply
  • Specialized Shared Appreciation Homebuyer Education required
  • No other CalHFA DPA allowed to be used in conjunction with product
  • Non-CalHFA DPA allowed to be layered with CALHFA Shared Appreciate DPA