CALIFORNIA – The California Housing Finance Agency (CalHFA) announced October 16 that the Dream For All Shared Appreciation Loan program will reopen in early 2026. This initiative aims to assist first-time homebuyers, particularly those who are first-generation, with down payment or closing cost assistance.

CalHFA says it is currently working through the existing waitlist and anticipates having funds available once all waitlist members have utilized or canceled their vouchers. 

Prospective homebuyers are encouraged to begin preparations by gathering the necessary documentation and consulting with lenders to ensure readiness for the upcoming registration period.

Eligibility Criteria

• First-Time Homebuyer Status: All borrowers must be first-time homebuyers.

• First-Generation Homebuyer: At least one borrower must be a first-generation homebuyer.

• Residency: At least one borrower must be a current resident of California.

• Income Limits: Borrowers’ income must meet CalHFA’s income limits for the county where the property is located.

Buyer repays down payment plus a share of the appreciation

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 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.

Applicants who have applied in previous rounds and were placed on a waitlist or received a DFA voucher may access the Voucher Portal to view the voucher status, download a copy of the voucher, request a one-time extension, or cancel the voucher.

For more information and updates, visit https://www.calhfa.ca.gov/dream/index.htm

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