CALHFA Announces Dream For Phase 2

February 21, 2024
February 21, 2024 Noraly Sainz

CALHFA Announces Dream For Phase 2

California Dream for All Shared Appreciation Loan Program to Launch Next Round in April

The California Housing Finance Agency is launching the next round of the California Dream For All Shared Appreciation Loan Program in April  2024. This innovative program is designed to help Californians who might not otherwise have the opportunity to achieve the dream of homeownership.

While more details are available on their website, following are some key elements for this round of the program:

Reservation System: CalHFA will open a web portal in early April where potential homebuyers can register for a Dream for All Voucher. Because the demand for this loan program is projected to be very high, these vouchers will be randomly drawn in late April to provide potential homebuyers across the state an equitable chance to receive a Dream For All loan.

Borrower qualifications: Borrowers must meet income limits for the county where they will purchase and at least one borrower must be a first-generation homebuyer as defined on CalHFA’s Dream For All web page.

All potential borrowers should work closely with their real estate professionals (i.e. loan officer, real estate agent or housing counselor) to ensure that the unique terms of this program are the best fit for their particular circumstances. Borrowers can learn more about shared appreciation through their free online education.

Those who are interested in registering for a Dream For All Voucher in April should start by contacting their approved lender to determine what they need to get qualified.