CalHFA Dream For All (Shared Appreciation)

First-time, first-generation CA buyers.

• Up to 20% down payment assistance
• No monthly payment on DPA
• Shared appreciation repayment at exit
• Limited funding — application windows open periodically

• First-generation first-time buyers

Who qualifies as 'first-generation' for CalHFA Dream For All?

A borrower whose parents did NOT own a primary residence in the United States in the past 7 years. This is the core eligibility filter that separates Dream For All from other CalHFA programs. Documentation is required to prove first-generation status.

How does the 'shared appreciation' repayment work?

At sale or refinance, you repay the CalHFA loan principal PLUS 15–20% of the property's appreciation since purchase. On a home that goes from $600K to $800K (a $200K gain), you'd owe back the original 20% ($120K) plus a percentage of the $200K appreciation. Your broker should run the numbers on your specific scenario before you commit.

When does Dream For All open its next funding window?

CalHFA opens Dream For All in allocated funding windows, not continuously. Historically these have opened for 2–4 weeks and closed when allocations run out. The next window timing isn't pre-announced. Get pre-qualified now so you can submit inside the first 48 hours when the window opens.