Are you dreaming of owning your own home but struggling with the down payment? CalHFA Dream for All might just be the solution you've been looking for! This innovative program offers a Shared Appreciation Loan, providing eligible homebuyers with the financial assistance they need to make their homeownership dreams a reality.

What is the Dream For All Shared Appreciation Loan?

The Dream For All Shared Appreciation Loan is a unique program that offers loans for down payments to qualified homebuyers. Unlike traditional loans, with a Shared Appreciation Loan, repayment is made upon the sale or transfer of the home, along with a share of the appreciation in its value. These repayments then go towards funding future homebuyer down payments, creating a cycle of support for aspiring homeowners.

Key Program Details:

• Maximum Loan Amount: Up to $150,000 or 20% of the sales price or appraised value, whichever is less.
• First-Generation Homebuyers: Only one borrower needs to meet the definition of a first-generation homebuyer.
• California Residency: Only one borrower must be a current California resident.
• Minimum CLTV: The Combined Loan-to-Value ratio must be between 95.00% and 105.00%.
• Income Limits: Income cannot exceed CalHFA Dream For All income limits. Eligibility for lower interest rates and shared appreciation repayment reduction is available for lower-income borrowers.
• Deferred Payments: No monthly payments are required on the Shared Appreciation Loan for the life of the first mortgage.
• Appreciation Cap: There's a cap on the amount of appreciation owed; borrowers will never repay more than 2.5 times the original loan amount.

Registration Information:

CalHFA Dream for All operates through a lottery system, providing equal opportunities for all eligible applicants. Registration for the program started on April 3rd and will continue until April 29th. To ensure your application is processed smoothly, reach out to National Pacific Lending, a trusted mortgage professional in California committed to helping clients achieve their dream of homeownership.

National Pacific Lending: Your Trusted Partner

At National Pacific Lending, we understand that buying a home is one of the most significant investments you'll make. As a trusted mortgage professional in California, we're dedicated to guiding you through the homebuying process and helping you find the right financing options to suit your needs. Let us be your partner on your journey to homeownership!
Don't let the down payment stand in the way of your homeownership dreams. Take advantage of the CalHFA Dream for All program and start your journey towards owning your own home today!