California Dream for All 20% down payment assistance
What is the program?
The Dream for All loan gives up to 20% down payment assistance for first time homebuyers in California.
Who qualifies?
Income limits vary by county — in LA County the income cap is $180k.
Is it a grant or a loan?
It’s a “shared appreciation” loan with NO payments and 0% interest. You pay it back when you sell or refinance out of it or after 30 years of ownership, plus a share of the appreciation in the value of the home. Those repayments are then used to fund future homebuyer down payments.
Who’s behind it?
The State of California through CalHFA (California Housing Finance Agency).
What’s the catch?
There are income limits and FICO score. You must owner occupy the property, it has to be a single family home or condo/townhouse (not multifamily), and you cannot have owned a home in the last 3 years.
When can you apply?
NOW! 🙂 The program just went live this week and funds are expected to run out quickly. Not all lenders are qualified to do the California Dream for All loan, so connect with me directly so you’re not going down dead ends with misinformation online and missing the boat.
Reach out!
www.lyonideas.com/call
Download my FREE guide to down payment assistance at:
www.buyahouseinLA.com
Full FAQ is here, you can also call me with questions! Hope this was helpful and don’t forget to share with someone who may benefit from this!
Sammy Lyon
REALTOR®️
DRE #02113227
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