Are you looking for a way to buy that first home?
We have the answer!
Dreaming of owning your own home in California? The CALHFA Dream Loan can help make it a reality! With low down payment requirements and competitive interest rates, our Dream Loan program can make homeownership more affordable for first-time buyers.
The CalHFA Dream for All (DFA) Shared Appreciation loan is an assistance program designed to help first-time homebuyers with down payment and/or closing costs, when used alongside the Dream For All Conventional first mortgage. This program is available starting March 27, 2023.
Eligibility & Qualifying Criteria
- First time homebuyer
- Minimum Credit Score: 660
- Maximum Debt-to-Income Ratio: Up to 50%*
- Property Type: SFR, Condo, Manufactured home
- Min/Max CLTV: 70%/105%
- Non-occupied co-signers not allowed
- CalHFA homebuyer education course required
- One year home warranty required
- Cannot be combined with CalPLUS ZIP or MyHome Assistance
Additional Features & Info
- Homebuyers only make payments once they sell, refinance, or transfer the property
- The program includes a subordinate second mortgage, down payment and closing cost assistance, and an effective interest rate on loans equal to the average annual home value appreciation
- Homebuyers are expected to complete a brief educational program