Dream For All Loan Program
Dreaming about buying a house? Free state program offers 20% down-payment assistance
Dreaming about buying your first house? Being a homeowner and building a better financial future?
A new state program could help make that dream a reality.
The California Housing Finance Agency (CalHFA) will start accepting applications on February 24 for Dream For All, a shared-appreciation loan program that offers as much as 20% in down-payment assistance – up to a maximum of $150,000.
The program has already helped thousands of families become homeowners – and you could be next.
Applicants must meet several requirements, including:
· Be a first-time homebuyer
· At least ONE of the applicants must be a first-generation buyer – their parents cannot have owned a home.
· Meet the household income limit of less than $295,000 in San Mateo County
· A minimum credit score of 660
· Provide specific documents, including a government-issued ID, proof of residence and other items.
· Work with a CalHFA-approved lender to obtain a pre-approval letter.
Under Dream For All, homeowners pay back the down payment plus 20% of the appreciation when they sell the home or refinance their mortgage. The money is returned to CalHFA and will help more families become homeowners through Dream For All loans.
If you are interested in applying for the program, or want to learn more, please visit https://www.calhfa.ca.gov/dream/ I've also included the news release with more information below. Please note, applications will be drawn through a random selection process, reviewed to ensure applicants meet eligibility requirements and then vouchers will be issued. However, CalHFA offers other programs for first-time buyers that can open the door to homeownership.
The dream of homeownership may be possible for you, and as a licensed REALTOR with 20 years of selling and buying real estate, I can help guide you along the way.






