California down payment assistance up to 20% of the Sales price

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Program Highlights

• Offers up to 20% for down payment or closing costs, not to exceed $150,000
• Homebuyer must register for a voucher. A randomized drawing will select registrants who will receive the voucher. This will not be first come, first served.

Eligibility

• One borrowermust be afirst-generation homebuyer.
• All borrowersmust befirst-time homebuyers.
• Income must meetCalHFA Income Limitsfor the county you are purchasing in.

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Next Steps

1. Talk to aCalHFA Approved Lenderwho is offering the Dream For All program.
2. Work with your loan officer to determine what you need to do to secure aCalifornia Dream For All (DFA) Lender Pre-Approval Letter. You’ll need this letter in order to register for a DFA voucher in April.

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Shared Appreciation

Shared Appreciation is a little more complex than a typical mortgage loan, so we’ve put together a few examples for you.

Shared Appreciation Examples

Example 1
	Borrower is a moderate-income homebuyer Dream For All provides a loan for 20% of the home purchase price. The homeowner pays back the original loan amount plus 20% of any appreciation in the value of the home.
Example 2
	Borrower income less than or equal to 80% AMI using the HomeReady Lookup Tool Reduced (0.75:1) program appreciation share Program appreciation share is equal to 0.75 times the Shared Appreciation Loan Amount (i.e., the original principal amount) as a percentage of the home value Dream For All provides a loan for 20% of the home purchase price. The homeowner pays back the original loan amount plus 15% of any appreciation in the value of the home