California Dream For All Shared Appreciation Loan

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 borrower must be a first-generation homebuyer.
• All borrowers must be first-time homebuyers.
• Income must meet CalHFA Income Limits for the county you are purchasing in.

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Next Steps

In the next several weeks, the random selection process will take place at which time the status will be updated for all qualified applications to either:

• Not Selected: You can still work with a CalHFA Approved Lender and explore other CalHFA down payment assistance options like MyHome and CalPLUS with ZIP.
• Waitlist: check your voucher portal account periodically and monitor your email. If a voucher position becomes available and you are next on the waitlist, your status will change to Voucher Issued, and you will be notified right away by email.
• Voucher Issued: You will see this status if you are randomly selected to receive a voucher! We will email detailed instructions and next steps to you along with your voucher.

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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

 

 

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