The California Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers. The program will give out $250 million in funds and provides up to 20% of the purchase price for your down payment. 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.

TO QUALIFY:

-At least one applicant must be a California resident

-At least one applicant must be a First-Generation Homebuyer, defined for this program as: A homebuyer who has not been on title, held an ownership interest or have been named on a mortgage to a home in the last 7 years, and to the best of the homebuyer's knowledge whose parents (biological or adoptive) do not have any present ownership interest in a home in the United States or if deceased whose parents did not have any ownership interest at the time of death in a home in the United States, or; An individual who has at any time been placed in foster care or institutional care.

-Income must be less than or equal to the CalHFA Dream For All income limits ($185K in San Diego, $149K in Riverside/San Bernardino)

-Maximum Shared Appreciation Loan amount is $150,000 or $20% of the sales price or appraised value, whichever is less

-Minimum Combined Loan-To-Value (CLTV) is 95.00%

-Temporary rate buy-downs are permitted, including a 2-1 buy-down, 1-1 buy-down, or 1-0 buy-down

-Upon sale/transfer of the home, the homebuyer repays the assisted amount plus 20% of the increase in the home's value since purchase.

-Can refinance one time and subordinate the silent 2nd

-680 min FICO up to 50% DTI

-660 min FICO can work if meet low income guidelines

-700+ FICO max DT| 45%

-5% is max Borrower contribution

Applicants must complete a pre-registration application to screen for eligibility through the pre-registration portal. To get started, scroll down to Get Qualified. Qualified applicants will be randomly selected to receive a voucher once the portal is closed.

Homebuyers will have until April to start working on their application. Scroll below to Get Qualified. The lottery opens in early April, and buyers will have a month to submit their applications. Between 1,700 and 2,000 lucky lottery winners will receive vouchers.

Qualified applicants will be randomly selected to receive a voucher once the portal is closed.

Buyers who receive a voucher will have 90 days to spend the funds on a home.