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

• Applications have been audited and voucher statuses have been updated. Applicants should log into their account on the DFA portal to check their status.
  • 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.
• Take the 1-hour California Dream For All education course which covers what shared appreciation is 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.

 

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Program FAQ

California Dream For All Shared Appreciation Loan

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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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