California Dream for All Program
Funding Amount
Up to 20% of home purchase price
Deadline
Rolling / Open
Grant Type
foundation
Overview
California Dream for All Program
Overview: A California state program launched in 2022 to make homeownership more accessible to low and moderate-income Californians through shared appreciation loans.
Geographic Scope: California residents only
Program Type: Shared appreciation loan for down payment assistance
- Covers up to 20% of home purchase price
- No monthly interest payments required on the shared appreciation loan
- Reduces primary mortgage amount, potentially lowering monthly payments
- May help borrowers avoid costly primary mortgage insurance (PMI)
- Potential to secure better interest rates
- Self-sustaining program (not funded by California taxpayers)
Key Features
- Residency: Must be a California resident with current residency documentation
- First-Time Homebuyer Status: Cannot have owned a home in the last 3 years
- Financial Need: Must demonstrate financial need as low or moderate-income Californian
- Credit Score & DTI Ratio: Must meet specific requirements based on credit score and debt-to-income ratio
- Property Types: Single Family Residences (SFR), Condos, or Manufactured homes
- Homebuyer Education: Must complete two-step CalHFA homebuyer education course
Eligibility Requirements
- Non-occupied co-signers are not allowed
- Cannot be combined with other CalPLUS ZIP or MyHome Assistance programs
- Not available for non-first-time homebuyers
What the Program Does NOT Fund
- As of April 7, 2023, all funds for the program have been reserved
- Additional funds may become available in the future
- Recommend monitoring official channels for reopening announcements
Program Status
Administrator
California Housing Finance Agency (CalHFA)Contact
Email: info@innercityfoundation.org- Established in 2022 with state budget backing
- Designed to be self-sustaining through returns on shared equity appreciation
- Successfully garnered significant attention and appreciation since inception
Background
How to Apply
Application Process
1. Verify Eligibility: Ensure you meet all eligibility criteria, including being a first-time homebuyer and California resident
2. Check Credit Score and DTI Ratio: Verify your credit score and debt-to-income ratio meet program-specific requirements
3. Select Property Type: Choose appropriate property (SFR, Condo, or Manufactured home)
4. Complete Homebuyer Education: Complete the two-step CalHFA homebuyer education course
5. Apply for Loan: Apply with the CalHFA DFA Conventional 1st loan
- Residency documentation
- Financial documents (organized and current)
- Credit score verification
- Debt-to-income ratio documentation
- Property information
- Proof of homebuyer education course completion
Required Materials
- Always read program fine print and understand exclusions before applying
- Act quickly when funds become available, as they are reserved on first-come basis
- Sign up for official CalHFA notifications to be informed when program reopens or new funds are allocated
- Consult official CalHFA website for most current application procedures
Important Notes
Focus Areas & Funding Uses
Fields of Work
Categories
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