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

Qualification Requirements*

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.