The California Housing Finance Agency (CalHFA) has launched a new program called the Dream Homes financing program. This program is designed to help first-time homebuyers in California purchase
CalHFA Dream For All! Down payment assistance of up to 20%
Dated: April 1 2023
The California Housing Finance Agency (CalHFA) has launched a new program called the Dream Homes financing program. This program is designed to help first-time homebuyers in California purchase their dream homes by offering down payment assistance and other benefits.
The Dream Homes financing program offers a shared equity loan, which means that CalHFA will provide up to 20% of the down payment for the home, in exchange for a share of the appreciation. This means that when you sell your home in the future, CalHFA will receive a portion of the appreciation based on the share of the loan they provided.
This program can be used in conjunction with other CalHFA programs, such as the My Home Assistance Program and the School Teacher and Employee Assistance Program. This program is available to first-time homebuyers in California who meet certain income and purchase price requirements.
One of the main benefits of the Dream Homes financing program is that it enables homebuyers to make a stronger offer with a larger down payment. This can help them to compete with other buyers in a competitive market, making it more likely that they will be able to purchase their dream home.
- Dream for All loans 20% of the home purchase price.
- The loan limit is $726,200, which yields an estimated purchase price of $907,750. ($181,550 Down Payment Loan)
- California has allocated $350,000,000 for this program before launch, and we expect this to go fast.
- The income limits vary by county. In Placer County, for example, the limit is $202,000. (CalHFA Income Limits by County)
CalHFA has a number of approved lenders that can help you to access the Dream Homes financing program, and can provide additional information about the program requirements and benefits. If you are a first-time homebuyer in California and are interested in purchasing your dream home, the Dream Homes financing program could be an excellent option for you.
Overall, the Dream Homes financing program offered by CalHFA is a great opportunity for first-time homebuyers in California to access down payment assistance and make a stronger offer on their dream home. With the help of this program, homebuyers can take the first step towards achieving their homeownership dreams.
#dreamforall #calhfa #downpayment #mortgage #limitedtime #remaxhussle #buyingsandiego
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