California Dream For All Shared Appreciation Loan

The Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers to be used in conjunction with the Dream For All Conventional first mortgage for down payment and/or closing costs.

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.

Program Updates

10/26/2023 - The CalHFA Board of Directors approved the second round of the Dream For All Shared Appreciation Loan Program at its October board meeting. We anticipate a release date for the program in early Spring of 2024, with official program details and announcement coming in January.

As further details are released, we will update this page.

Thanks for your interest in Dream For All.

Shared Appreciation

Shared Appreciation is a little more complex than a typical mortgage loan, so we’ve put together a few examples for you.

Shared Appreciation Examples
Example 1
Example #1: Borrower is a moderate income homebuyer Image Borrower is a CalHFA income homebuyer
  • Dream For All provides a loan for 20% of the home purchase price.
  • The homeowner pays back the original loan amount plus 20% of any appreciation in the value of the home.
Example 2
Example #2: Borrower income less than or equal to 80% AMI using the HomeReady Lookup Tool Image Borrower income less than or equal to 80% AMI using the HomeReady Lookup Tool
  • Reduced (0.75:1) program appreciation share
  • Program appreciation share is equal to 0.75 times the Shared Appreciation Loan Amount (i.e., the original principal amount) as a percentage of the home value
  • Dream For All provides a loan for 20% of the home purchase price.
  • The homeowner pays back the original loan amount plus 15% of any appreciation in the value of the home

 

 

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CalHFA's Homebuyer Education

ONLINE: eHome's eight-hour Homebuyer Education and Counseling course is the only online course accepted by CalHFA. (fee: $99) Other online courses like Frameworks are not acceptable because they do not provide a one-hour, 1-on-1 counseling follow-up session.

IN-PERSON or VIRTUAL: Live Homebuyer Education and Counseling in-person or virtually though NeighborWorks America or any HUD-Approved Housing Counseling Agency

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Call Toll Free 877.9.CalHFA (877.922.5432)