Your dream of owning a new home could become a reality — with some government support.
California residents who have never owned a home are eligible for the state’s “Dream for All Shared Appreciation Loan Program” (DFA).
But you’ll have to move fast as the program is only open from Feb. 24 to March 16 — or just 20 days.
The best part is the loan is repaid when borrowers sell their home, along with between 15–20% of any value appreciation, which is used to keep the DFA program going.
“The California Dream For All program has already helped thousands of Californians buy their first home,” Tony Sertich, executive director of CalHFA, toldThe Mortgage Reports.
“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.”
The program works on a lottery system for those who qualify. The drawing will take place after the application period ends. However, CalHFA is encouraging people not to wait so they have plenty of time to gather all the necessary paperwork.
The program has already helped people like Deborah Jang, 30, who qualified for the $140,000 Dream for All loan in 2024, theOrange County Registerreported.
Jang and her husband where able to buy their $700,00 condominium last year in Anaheim Hills.
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Source: California Post – Breaking California News, Photos & Videos
