CalHFA’s Dream For All Shared Appreciation Loan
A New Down Payment Assistance Program for First-Time California Homebuyers, the California Housing Finance Agency (CalHFA) is committed to improving equitable access to homeownership for all Californians.
The Dream For All Shared Appreciation Loan provides first-time homebuyers with up to 20% of the home purchase price to be used for down payment and/or closing costs.
Dream For All Features:
· Conventional First Mortgage loan
· Shared Appreciation Loan for down payment or closing costs
· 30-year term with a fixed interest rate
· Shared Appreciation: If your home increases in value, you pay a percentage of the increase to CalHFA when you sell or refinance
Each borrower must:
· Be a first-time homebuyer
· All borrowers, including co-borrowers must reside in the home
· Be either a citizen or other National of the United States, or a “Qualified Alien” as defined by 8 U.S.C § 1641
· Purchase a property anywhere in California
· Meet credit, income and loan requirements of CalHFA’s first mortgage loan program, the CalHFA-approved lender, CalHFA’s Master Servicer, Lakeview Loan Servicing and the mortgage insurer, as applicable.
· Complete Homebuyer Education
*The MyHome Assistance Program may not be combined with a Dream For All Conventional first mortgage using the Shared Appreciation Loan. The Shared Appreciation Loan must be in second lien position when layering with other programs.