Dream For All Pre-Registration Portal

Program Highlights

• Offers up to 20% for down payment or closing costs, not to exceed $150,000

• Homebuyers 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.
  

Next Steps

1. Talk to a CalHFA Approved Lender offering the Dream For All program.

2. Work with your loan officer to determine what you need to do to secure a California Dream For All (DFA) Lender Pre-Approval Letter. You’ll need this letter to register for a DFA voucher in April.

3. Take the 1-hour California Dream For All education course, which covers shared appreciation and how it affects your mortgage repayment. This course is delivered online and is free. Visit calhfadreamforall.com to get signed up and learn about shared appreciation now.

4. Gather documents:

• California Dream For All (DFA) Lender Pre-Approval Letter

• Government ID: Passports, driver’s licenses, state-issued ID, military ID, permanent residence cards, visas, or employment authorization documents

• Proof of current address: Government ID, utility bill, cell phone bill, insurance bill, voter registration or car registration

• Foster care documentation (if applicable): Foster Care Verification Form/Letter or court documents

Shared Appreciation

Shared Appreciation is a little more complex than a typical mortgage loan, so here are a few examples for you.

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.

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

Source: Agency, California Housing Finance. “Dream for All: Shared Appreciation Loan.” California Dream For All | Shared Appreciation Loan, www.calhfa.ca.gov/dream/?utm_medium=email&utm_source=govdelivery. Accessed 7 Mar. 2024.