A. The Dream For All Loan is a 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.
Q. Does CalHFA allow borrowers to make payments on the Dream For All Loan?
A. Yes, however payments are applied to the principal balance only and do not affect the shared appreciation portion. However paying off the principal balance in full will trigger the repayment of the shared appreciation portion.
Q. What is the maximum loan amount for the Dream For All Loan?
A. The maximum loan amount is up to $150,000 or 20% of the sales price or appraised value, whichever is less.