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CalHFA Loans

Dream For All DPA Loan Program

Available Now

Program Suspended, 04/07/2023, Funds Committed

Here's how it works:

  • Up to 20% Down Payment Assistance
  • First-Time Home Buyers Only
  • Funds may be used for down payment/closing costs
  • 45% DTI, Min. 680 FICO
  • 50% DTI, Min. 700 FICO
  • 1 unit and Manufactured Homes Allowed
  • Payments Are Deferred for the Life of the First Loan
  • Homebuyer Education Courses Required
  • Income Cannot Exceed CalHFA Income Limits
  • Impounds Required
  • CA Only Properties
  • High Balance Option Available


Q. What is the CalHFA Dream For All Shared Appreciation Loan Program?

A. The Dream For All Shared Appreciation Loan (Shared Appreciation Loan) is a shared appreciation loan program that provides loans for a down payment to qualified first-time homebuyers. Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home. Those repayments are may be used to fund future homebuyer down payments.

Visit the CalHFA Dream For All website for examples and more information.

Q. Who qualifies as a First Time HomeBuyer for this program?

A. A first-time homebuyer is defined as someone who has not owned and occupied their own home in the last three years. That means if your borrower never owned a home, they are a first-time homebuyer. It also means that if they owned a home three or more years ago, but sold it, they are right back to being a first-time homebuyer, and they may be eligible for the benefits of CalHFA’s Dream For All Program. Exceptions may apply. Visit the CalHFA site for more details: Borrower Eligibility Requirements | CA Housing Finance Agency

Q. Is the loan deferrable?

A. Yes, payments are deferred for the life of the first mortgage.

Q. How is the loan paid back?

A. The borrower  will need to repay the outstanding portion of their first lien, and pays back the second CalHFA lien loan amount plus 20% of the appreciation in the value of the home. Those qualifying with income less than or 80% AMI (using the HomeReady Lookup Tool) will repay the second CalHFA lien loan amount plus 15% of the appreciation in the value of the home

Q. Is there Marketing I can Provide to my clients and business partners?

A. Yes, visit the Resources/Marketing Page on our website for CalHFA for a customizable version of our flyer

For additional Information on the Dream for All Shared Appreciation Loan Program visit THE California Housing Finance Agency Page Loan Program Handbook for Lenders, Real Estate Agents, Non-Profits | CalHFA or their FAQ Page CalHFA Dream For All Share Appreciation Loan Program Frequently Asked Questions

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