The California Housing Finance Agency launched its new shared equity home loan program on March 27. With the Dream for All program, the state plans to provide $300 million worth of down payments for an estimated 2,300 first-time homebuyers. This is a very popular program and the funds allocated for this program usually run out very quickly and the program becomes no longer available.
California Dream For All Shared Appreciation Loan Program
The Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers to be used in conjunction with the Dream For All Conventional first mortgage. It can be used for down payment and/or closing costs.
Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home.
In order to qualify you must:
Property Requirements:
Homebuyer Education Requirement
This is a very popular program and the funds allocated for this program usually run out very quickly and the program becomes no longer available.
If this is a good option for you or anyone you know who can benefit from this program, please contact me for more details.