A California Housing Finance Agency (CalHFA) program assisting first-time home buyers with the down payment of their home loan for the last four years is set to start accepting applications shortly. Called ‘Dream For All,’ the program gives eligible first-time home buyers a one-time loan of up to $150,000 as assistance with the home loan down payment.
Launched in March 2023, the fourth edition of the program will start application on February 23. The last date to apply for the program is March 16. Notably, the ‘Dream For All’ program works on a lottery basis, and only those selected for it will be eligible to claim the loan. The objective of the loan is to offset the very high upfront cost of buying a home.
‘Dream For All’ Eligibility Criteria
First-time aspiring homeowners within certain income limits in California are eligible to apply. Joint applications are allowed if at least one of the members is both a first-time homeowner and a California resident. Those who apply for the program will enter a lottery system. Only those selected in the lottery system can claim the loan.
Income limits vary by county, for example, $168,000 in Los Angeles, $309,000 in Santa Clara, etc. Check the official website of the program to know the income limit.
Notably, the loan does not come free of cost. CalHFA mandates that when homes bought under the program are sold, the seller must pay 15% to 20% of the appreciated value back to CalHFA. This payment helps to keep the fund running.
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‘Dream For All’ Application Deadline And Key Dates
Registration for vouchers under the ‘Dream For All’ program opens February 24 and closes March 16, 2026. The lottery is held shortly after, and it prioritizes underserved areas. Approved applicants get 90 days to find a home; prior waitlist users are included.
What To Know About The Program
CalHFA fully administers the program, with Executive Director Tony Sertich overseeing operations and publicly promoting it. Staff like Eric Johnson handle communications and partnerships with lenders, developers and local governments.
“As these homeowners begin to repay their loans, the funds are reinvested into the program to create a cycle that will continue far into the future, planting the seeds of generational wealth to help keep the California dream alive,” a statement from Sertich on the website reads.
The 2025-26 state budget allocates $300 million to assist about 2,000 households.