California Housing Finance Agency (CalHFA) have begun their California Dream For All Shared Appreciation Loan initiative. This initiative is expected to help first time homeowners achieve the act of purchasing their first home, amidst rising housing costs. This initiative will assist in downpayment and closing costs.
Applications for this initiative will open on Feburary 24, 2026. All who apply will receive an equal opportunity to be chosen for up to 20% of their home purchase price or appraised value in down payment assistance. California’s state budget for 2025-26 has allocated $300 million, in preparation for assisting around 2,000 families around California.
The application will close on March 16, 2026, applicants can expect their application to be reviewed after this date. Once approved, applicants will be notified and will receive 90 days to find a home.
“The California Dream For All program has already helped thousands of Californians buy their first home,” said CalHFA Executive Director Tony Sertich in CalHFA’s press release. “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,” he continued.
Eligibility for those interested in CalHFA’s program, includes at least one borrower to be a first generation homebuyer, at least one borrower must be from California, income must meet the requirements of the county of which the home will be located, and all borrowed must be first-time homebuyers.
CalHFA requires applicants to work with a CalHFA Approved Lenders in order to receive a Pre-Approval letter before the submission of their application. Documents such as passports, birth certificates, and/or drivers licenses are also required. CalHFA will also require proof of first time home ownership, applicants will be required to provide information involving both of their parents. Including, names, address(s), date of birth, birth certificate of applicant, etc.
Homeownership is widely considered a key pathway to building generational wealth, yet lower-income families have historically faced disproportionate barriers to purchasing homes.
“I do agree that having a home sets you up for success. I have always wanted to own a home that’s mine, one I can pass down to my kids. So far it’s been really hard, but I do think this program has the ability to help not only me but other people too,” said Lydia Torres, prospective California For All Shared Appreciation Loan applicant. “My parents were never able to afford the down payment for a home, I think a program like this would have helped them,” continued Torres.
As California continues to combat the rising costs of homes, this initiative creates a strategy aiming to grant equal opportunity to all California residents. For more information visit CalHFA’s website.
