CalHFA Dream For All Program


The California Housing Finance Agency (CalHFA) has recently launched the Dream For All Shared Appreciation Loan program, which provides a loan for 20% of the home purchase price. The loan is meant to be used as down payment assistance, or a combination of down payment assistance and closing cost assistance on conventional loan programs.

Unfortunately, due to high demand for this program, CalHFA had to pause it only two weeks after its launch.

The biggest selling point is that it allows for up to 20% assistance while most programs cap out at 3.5% to 5%.

The program has more strict requirements than a standard FHA program, with credit FICO score minimum at 680 and follows the CalHFA income limits. Examples of that include:

  • Riverside County: $173k / yr
  • Orange County: $235k / yr
  • San Diego County: $211k / yr
  • Los Angeles County: $180k / yr
  • San Bernardino County: $173k / yr

The loan amount plus 20% of any appreciation in the property value must be repaid when the homeowner sells or refinances the property. Lower income, 80% or lower, only repay 15%.

The Dream For All program was created in 2021 by AB 140, which empowered the California State Legislature to provide more resources for first-time homebuyers.

There are other down payment assistance programs available.

We discuss them generally on the Down Payment Assistance Podcast episode.