Published April 17, 2023

Don't Miss Out on California's Limited-Time “Dream For All Program”

Written by Brian Parsons

Don't Miss Out on California's Limited-Time “Dream For All Program” header image.

This new down payment assistance program is making buying more accessible.

Attention first-time homebuyers in California! You might be excited to know that the state has recently launched a new down payment assistance program called Dream For All, which can help you purchase your dream home. Let's take a closer look at what this program entails and how you can benefit from it.

Dream For All is a state-funded program that offers eligible first-time homebuyers 20% down payment assistance towards their home purchase. This means that you don’t have to worry about coming up with a hefty down payment from your own pocket. The best part? You don’t need to make any payments on this assistance. Instead, when it's time to sell the property, you are required to give back the 20% down payment to the state of California. Additionally, the appreciation of the property will be split between you and the state in an 80-20 ratio. You get to keep 80% of the profits, while the state of California gets 20%.

"Save a significant amount of money and enjoy the benefits of homeownership. "

To be eligible for this program, you must be a first-time homebuyer who hasn’t purchased a home in the last three years, and your annual income should be below $180,000. This is a fantastic opportunity for those who might not have enough savings to afford a down payment or those who are struggling to enter the competitive housing market.

The only catch is that there is a limited amount of funding available. Therefore, it's crucial to act fast and take advantage of this opportunity before it's too late. Initially, the state of California had only $300,000 to give out. We anticipated that the funds would last for two to three months, but the latest update on this program revealed that they were exhausted within just 10 days.

However, there's good news—an additional $200 million will be made available for first-time homebuyers. Please stay in touch if you're interested, and we'll notify you as soon as the funds are accessible so you can take advantage of the program. Don’t hesitate to reach out to us by phone call or email. We’re happy to help guide you through this process.