CalHFA Dream For All Shared Appreciation Loan

What is CalHFA Dream For All Shared Appreciation Loan?

CalHFA Dream For All Shared Appreciation Loan is a shared-appreciation loan for homebuyers in California.

• Shared appreciation loan providing up to 20% of purchase price (max $150,000) for down payment/closing costs. Funded at $300M in 2025-26 budget. First-generation homebuyers prioritized. Repay principal plus proportional share of appreciation on sale/transfer. Application window Feb 24 – Mar 16, 2026.
• Up to $150,000 in assistance.
• shared equity with provider at resale.
• Funding comes from State General Fund.

How much assistance does it provide?

CalHFA Dream For All Shared Appreciation Loan provides assistance worth 20% of the purchase price, as set by the program.

• The program asks buyers to contribute 3% of purchase price (borrower minimum).
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

CalHFA Dream For All Shared Appreciation Loan is a shared-appreciation loan and is repaid under the terms set by the administering agency.

• Repayment is triggered by Sale, refinance, transfer, or end of owner-occupancy and CalHFA shares in 20% of appreciation.
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

CalHFA Dream For All Shared Appreciation Loan is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

CalHFA Dream For All Shared Appreciation Loan limits household income to 120% of the area median income, which varies by county and household size.

• Varies; see program guidelines - income qualification through first mortgage lender.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

CalHFA Dream For All Shared Appreciation Loan caps the purchase price at $765,000.

• Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

CalHFA Dream For All Shared Appreciation Loan names first-generation buyers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

CalHFA Dream For All Shared Appreciation Loan serves buyers purchasing anywhere in California.

How do you apply?

Applications for CalHFA Dream For All Shared Appreciation Loan go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer counseling agency or eHome America.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Annual CalHFA Dream For All lottery (dreamforall.com), and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.