California down payment voucher program receives over 18,000 applications

Published on

CALIFORNIA – The California Housing Finance Agency (CalHFA) announced, Tuesday, that the Dream For All (DFA) down payment assistance voucher program received 18,000 applications and the application period is now closed.

“The program received over 18,000 submissions and we are working quickly to review and audit the applications,” said the CalHFA news release

The agency says in the next few weeks, the random selection process will take place at which time the status will be updated for all qualified applications to either ‘Not Selected’, ‘Waitlist’, or ‘Voucher Issued’.

20% down payment, not to exceed $150,000

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.

Phase II of the DFA voucher program began accepting applications at the beginning of April. 

Through a lottery process, qualified first generation homebuyers who are selected for a voucher will get a 20% down payment, not to exceed $150,000, and/or closing costs assistance. 

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.

Other Options

CalHFA says if an applicant is not selected, they can still work with a CalHFA Approved Lender to explore other CalHFA down payment assistance options like MyHome and CalPLUS with ZIP.

For more information about CalHFA programs visit https://www.calhfa.ca.gov/homebuyer/programs/index.htm

RELATED: Dream for All Phase II – $255 million fund for home down payment opening Spring 2024

spot_img

Latest articles

Unofficial election results – Californians reject rent control and $18 minimum wage 

CALIFORNIA – Over 50% of California residents voted against both rent control and an...

Power shutoff being considered for over 63,000 San Bernardino County Edison customers 

SAN BERNARDINO COUNTY – Southern California Edison (SCE) is considering a Public Safety Power...

Corporate landlords have raised $124 Million to campaign against rent control  

CALIFORNIA – CalAccess.gov, California's online database for tracking campaign finance activity, shows that corporate...

New survey says 31% of CA realtors report buyers faced difficulties obtaining insurance

CALIFORNIA – The California Association of Realtors (CAR) released their 2024 Annual Housing Market...
Powered by Foreclosure.com

More like this

Corporate landlords have raised $124 Million to campaign against rent control  

CALIFORNIA – CalAccess.gov, California's online database for tracking campaign finance activity, shows that corporate...

New survey says 31% of CA realtors report buyers faced difficulties obtaining insurance

CALIFORNIA – The California Association of Realtors (CAR) released their 2024 Annual Housing Market...

High Desert’s 1st manufacturing hiring event scheduled for Nov. 21

VICTORVILLE – High Desert America's Job Center of California is hosting a manufacturing hiring...