downpayment blog

CalHFA to introduce the Dream for All Shared Appreciation Loan

California state budget has established the Dream For All Program that allocate funds to help first time homebuyers get into their dream home.

It is a down payment assistance program for first-time homebuyers to be used in conjunction with the Dream for ALL conventional first mortgage for down payment and/or closing costs.

The requirement as follows:

  • First Time Homebuyer;
  • AMI median income requirement for a specific County;
  • Owner Occupied
  • Credit Score of 680 or better for conventional loan;
  • Credit Score of 640 or better for FHA loan.

The program is limited time only as the state have allocated $500,000,000, and once it runs out the program will not available.

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