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Kick your dreams into gear with CalHFA Dream For All program

Ed's Real Estate - Modesto*UPDATE - Apr 10, 2023 - The CalHFA Dream For All program is suspended. The program was so popular that funds allocated for the program were depleted within 10 business days. No further info regarding reinstatement is available. For information on other down payment assistance programs provided by the state of California, click here. *

First time home buyers in California can now tap into a new program to assist with a 20% down payment loan.

The CalHFA Dream For All program allows a lender to provide up to 20% for a down payment on a home, letting the homebuyer avoid PMI and other fees associated with a low down payment loan.

How does it work?

The home buyer will have a mortgage of 80% of the asking price, and a second lien of 20% of the purchase price.

The second lien is paid back when the home owner sells or refinances the home at later date (Good news! The payback is with 0% interest!) You will also owe 20% of the appreciation on the home at the time of sale.

To qualify, the home buyer must be classified as a first time home buyer, (meaning the buyer has not owned a home in the past three years), be the main occupier of the home, and not exceed specific income limits. Successful completion of an eight-hour home buyer course is also required.

If you’re interested, you should contact a CalHFA approved lender asap, or contact an experienced real estate agent, who can put you in contact with a lender . The program is funded with $300 million in state funds to start, and chances are good it will go fast.

For more info on the CalHFA Dream For All program, click here, and here


Ed's Real Estate -  Modesto Ed Justen -DRE: 02221512  - Affiliated with  Keller Williams. All advice and information given on this blog is sourced from publicly available websites and common knowledge.  Got questions?  Click here to book 30-minute meeting with me.