Are you dreaming of owning your own home but struggling to save for a down payment? CalHFA’s Dream For All program offers valuable down payment support to help make homeownership a reality for Californians. In this guide, we’ll explore how the Dream For All program works and how it can benefit you on your journey to homeownership.

Understanding CalHFA’s Dream For All Program

CalHFA, the California Housing Finance Agency, is dedicated to providing affordable housing options for residents of California. The Dream For All program is one of their initiatives aimed at assisting first-time homebuyers with down payment support.

How Does the Dream For All Program Work?

Eligibility Criteria

To qualify for the Dream For All program, you must be a first-time homebuyer, meaning you have not owned a home in the past three years. Additionally, you must meet certain income and purchase price limits, which vary depending on the location of the property.

Down Payment Assistance

Through the Dream For All program, eligible homebuyers can receive down payment assistance in the form of a deferred-payment loan. This loan covers a portion of the down payment and closing costs, reducing the amount of upfront cash needed to purchase a home.

Repayment Terms

The down payment assistance provided by the Dream For All program is typically repaid when you sell the home, refinance, or pay off your mortgage. This allows you to access the funds without adding to your monthly expenses.

Benefits of CalHFA’s Dream For All Program

Increased Affordability

By providing down payment support, the Dream For All program helps make homeownership more affordable for first-time buyers, particularly those with limited savings.

Expanded Homebuying Options

With assistance from the Dream For All program, you may be able to qualify for a wider range of mortgage products and purchase a home that meets your needs and preferences.

Financial Stability

Owning a home can provide long-term financial stability and build wealth over time. The Dream For All program empowers you to take the first step toward building equity and securing your financial future.

How AAA LENDINGS Can Help

AAA LENDINGS is proud to partner with CalHFA to offer the Dream For All program to our clients. Our experienced mortgage professionals will guide you through the application process, helping you determine if you qualify for down payment assistance and assisting you every step of the way toward homeownership.

Take the First Step Toward Homeownership Today

Ready to turn your dream of homeownership into a reality? Contact AAA LENDINGS to learn more about the Dream For All program and how you can benefit from down payment support. Our team is dedicated to helping Californians achieve their homeownership goals, and we’re here to support you on your journey.