CalHFA announces new resources on Dream For All 20% down payment program

Published on

CALIFORNIA – The California Housing Finance Agency (CalHFA) announced, March 13, new resources available offering a range of information to guide homebuyers through the process of how the Dream For All (DFA) program works. 

Homebuyers can learn how to use the shared appreciation loan –  a 20% down payment and/or closing costs assistance, prior to the DFA voucher pre-registration opening on Wednesday April 3, 2024, at 8 a.m.  

First-Time Homebuyer vs. First-Generation Homebuyer

According to CalHFA, the first phase of the DFA program helped 2,182 new homeowners purchase a home with 55% self-identifying as belonging to communities of color.

For Phase 2, CalHFA requires that DFA voucher applicants be first-generation homebuyers. The details of eligibility and the pre-registration process are explained on the Program Resources page.

New videos on the page include:

  • First-Time Homebuyer vs. First-Generation Homebuyer
  • Which CalHFA loan is right for you?
  • What you can do now to get ready?

Voucher Pre-registration

CalHFA says prospective homebuyers should start now to work with an approved lender to get the required documents ready to apply for a DFA Voucher through the pre-registration portal.

The agency will accept applications until 5 p.m. on Monday April 29, 2024. 

If a homebuyer’s application is drawn and they receive a DFA Voucher, they will have 90 days to shop for a home, enter into a contract to purchase a home, and for the lender to reserve the loan through CalHFA’s Mortgage Access System (MAS). 

For more information about the CalHFA Dream For All Program Resources page visit https://www.calhfa.ca.gov/dream/resources/

RELATED: CalHFA announces Dream For All 20% down payment portal opens April 3 — details pre-registration

spot_img

Latest articles

CA bill to raise incarcerated firefighters’ pay to $7.25 advances

CALIFORNIA – Assembly Bill 247, a measure that would guarantee incarcerated firefighters earn $7.25...

Heat advisory issued for Inland Empire with temps of 95–104°F expected

INLAND EMPIRE – The National Weather Service (NWS) has issued a heat advisory for...

Four-way flashing signals on 7th Street in Victorville scheduled for July 10 and July 11

VICTORVILLE – The City of Victorville announced that repairs along 7th Street will require...

Young visitors can earn a free Old Spaghetti Factory meal with the County Museum’s Summer Passport

SAN BERNARDINO COUNTY – San Bernardino County Museum (SBCM) announced the launch of its...

More like this

CA bill to extend 3-day rent notice to 14 days stalls in Assembly

202520260SB436_Assembly Judiciary CALIFORNIA – SB 436, a bill that would extend the time tenants...

CA sues notorious landlord with over 22,000 units marked by roaches, rodents and leaking roofs

CALIFORNIA – California attorney general Rob Bonta announced June 12, that he filed a...

Insurance commissioner launches investigation into State Farm’s handling of wildfire claims

CALIFORNIA – California Department of Insurance (CDI) commissioner Ricardo Lara announced June 12, that...