Last Updated on January 16, 2026 by The HD Post Staff
CALIFORNIA – The California Housing Finance Agency (CalHFA) announced that pre-registration for the Dream For All (DFA) Shared Appreciation Loan Program will open February 24.
The program will offer up to $150,000 in down-payment assistance to qualifying homebuyers.
CalHFA said the program is reopening after determining funds are likely to remain once the waitlist is exhausted.
The DFA program is designed to help first-time and first-generation homebuyers afford a home by providing shared-appreciation loans for down payment and closing cost 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.
Selected applicants receive vouchers that can be used with an approved lender once they find a home.
Under the new schedule, pre-registration opens February 24 and runs through March 16.
Selected applicants are then given 90 days to find a home and work with a CalHFA-approved lender to reserve their loan.
CalHFA expects strong interest again and will use a randomized selection process due to anticipated demand.
1,700 down-payment assistance loans issued last year
The program has already helped thousands of Californians.
CalHFA reported issuing more than 1,700 DFA down-payment assistance loans in the 2024–25 fiscal year.
In 2023, the program’s initial allocation of about $300 million was fully claimed within about 11 days of opening due to extremely high demand.
Roughly 2,000 to 2,500 participants used funds before the program paused.
CalHFA later revised the application process, adopting a pre-registration and randomized selection system.
The change was intended to ensure fair regional distribution and prioritize eligible first-generation homebuyers.
CalHFA encourages potential applicants to prepare early and visit its website for details on eligibility and application requirements.
For more information visit https://www.calhfa.ca.gov/dream/
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