The Dream For All Program Is Back In 2024

Hey there, future homeowners! If you're a first-time buyer dreaming of owning your own home, you're in the right place. Today, we're diving into an incredible opportunity that could make homeownership a reality for you – the Dream For All Shared Appreciation Loan Program. This loan program not only supports first-time buyers but also offers down payment assistance, making your journey into homeownership even more accessible.

Empowering First-Time Buyers with Down Payment Assistance

We all know that the biggest hurdle for many first-time buyers is the down payment. Well, the Dream For All Shared Appreciation Loan Program is here to change that. As a first-time buyer, you can receive up to 20% of the home purchase price to cover your down payment and/or closing costs. Yes, you read that right – down payment assistance to help kickstart your homeownership journey.

A Closer Look at the Dream For All Loan Program

This loan program is specifically designed for first-time buyers looking to purchase an owner-occupied property anywhere in California. But here's the catch – it comes with shared appreciation. Let's break down what this means and why it's a win-win for you.

• Layering Assistance for Affordability: One of the unique features of this program is that you can layer it with other non-CalHFA down payment assistance loans or grants. This means you have the flexibility to maximize affordability by combining different assistance programs.

• First-Generation Homebuyers Welcome: To qualify, at least one borrower must be a first-generation homebuyer. This ensures that the program is geared towards those who are new to the world of homeownership.

• Owner Occupancy and Property Requirements: The program emphasizes the importance of the property being your primary residence. Within sixty days of closing, you need to move in and make it your home. Non-occupant co-borrowers and co-signors are not allowed, maintaining the focus on individual homebuyers.

• Program Appreciation Share: The shared appreciation feature is where it gets interesting. Depending on your income, you can receive up to 20% down payment assistance and share in up to 20% of the home price appreciation. For those with lower incomes, the appreciation share is reduced but still offers significant support.

How to Get Started on Your Homeownership Journey

Getting started is easy. Connect with a CalHFA-approved lender to explore the Dream For All Shared Appreciation Loan Program. They'll guide you through the process, ensuring you meet the eligibility criteria and understand the terms of the loan.

Your dream of homeownership is within reach, and the Dream For All Shared Appreciation Loan Program is here to make it happen. Say goodbye to the down payment dilemma and hello to the keys of your new home. Reach out to a CalHFA-approved lender today, and let's turn your dream into reality. Happy house hunting!