CalHFA
Down Payment Assistance Program
Dream For All Program
The CalHFA Dream For All Shared Appreciation Loan is a down payment assistance program for qualified First
Time Homebuyers that offers up to 20% (maximum $150,000) for down payment and/or closings costs.
Reservations for Phase 2 Now Open
and will accept applications until
April 29, 2024 5pm PDT
In order to create a more equitable process, CalHFA has introduced a lottery process where eligible pre-approved Homebuyers must register for a voucher. A randomized drawing will select registrants who will receive a voucher, at which point Buyers will have 90 days to close on their new home. This will not be first come, first served.
Getting Started
1. Check Program Eligibility Requirements
- One Borrower must be a California resident AND a First Generation Homebuyer.
- All Borrowers must be First-Time Homebuyers.
- Combined income must be at or below the DFA Program Income Requirements for the county you are purchasing in.
- Combined Loan-To-Value (CLTV) must be between: 95% – 105%. For example: 1st mortgage plus Down Payment Assistance amount must be between 95% of the purchase price, or 105% of the purchase price.
2. Get Pre-Approved and Register for Voucher Drawing in April
- Get Pre-Approved with us to receive your California Dream For All (DFA) Lender Pre-Approval Letter.
- You will need this Pre-Approval Letter in order to register for a DFA voucher on April 3, 2024 through the CalHFA website.
3. Complete Homebuyer Education Requirements
- Two Homebuyer Education Courses followed by a Counseling Session must be completed.
- First: 8-Hour Homebuyer Education and Counseling Course through CalHFA e-Home.
- Second: 1-Hour California Dream For All Education Course (online only) through www.calhfadreamforall.com.
- A required Certificate of Completion will be provided after course completion and Counseling Session.
4. If Voucher is Awarded, Close Within 90 Days
- Recipients of the Award Voucher will be announced in late April.
- For those recipients of the Dream For All voucher, they will have 90 days to close on their home purchase.
Additional Info & Resources
- Frequently Asked Questions (FAQs)
- CalHFA’s Dream For All Website