'California Dream for All' loan program for first-time homebuyers: How to apply

Looking to purchase your first home but need a little extra assistance with that down payment?

A new initiative launched Monday called the California Dream For All Shared Appreciation loan program wants to help first-time homebuyers and make their dreams of owning a home a reality. 

Made possible by the California Housing Finance Agency, the program gives eligible individuals 20% of the home's cost to help with the down payment. When the homeowner sells the house, the state will get a portion back (15% or 20% of any appreciation of the home depending on your income) and, in turn, uses that money to help out the next first-time homebuyer.

If your home hasn't grown in value but you still want to sell, you'd be responsible for paying back the original 20% loan, according to the CalHFA.

The state plans to provide $300 million in payments to help 2,300 first-time buyers.


You are eligible to apply if you've never owned a home or if you owned a home three or more years ago and sold it, according to CalHFA. You must also plan to live in the home you are buying and must meet income requirements depending on the county in which you live.

For example, in Los Angeles County, borrowers must make under $180,000 per year. You can check your county’s income requirements by tapping or clicking here.

Since CalHFA is not a direct lender, the loans are offered through private loan officers. To contact a loan officer in your area, tap or click here to find one near you.