CA Program Gives Money to First Time Buyers

Starting this week California first time buyers will be able to register to get up to $150,000 from the Dream For All Shared Appreciation Loan Program.

This program will allocate up to 20$ of the downpayment, or closing costs up to $150,000, for borrowers who meet the following requirements:

1. Must be first time home buyers
2. At least one of the buyers must be a first-generation home buyer
3. Buyers must meet income level requirements (to be determined by the county in which the purchase takes place).

Upon sale or transfer of the home the borrower must pay the loan off as well as some of the property appreciation. Recipient borrowers will be selected via lottery.

Registration for the program opened at 8 a.m. today, April 3, 2024, and closes at 5 p.m. on April 29. To register, visit www.calhfa.ca.gov/dream/ and talk with an approved lender.