CalHFA Down Payment Assistance (DPA)

The California Dream for All (DFA) Shared Appreciation Loan Program is a state-funded initiative assisting first-time, first-generation homebuyers with up to 20% of the home purchase price (or up to $150,000) for a down payment or closing costs. It operates as a shared appreciation loan, meaning the buyer repays the original loan plus a portion of the home’s value appreciation when selling or refinancing.

Program Highlights

• Credit Score: 600+
• Down Payment: Assisted up to $150,000
• Occupancy: Primary Residence Only
• Homebuyer must register for a voucher. A randomized drawing will select registrants who will receive the voucher. This will not be first come, first served.

Eligibility

• One borrower must be a first-generation homebuyer.
• One borrower must be current resident of California.
• All borrowers must be first-time homebuyers.
• Combined household income must meet CalHFA Income Limits for the county you are purchasing in.

Next Steps

• CalHFA is expecting it will take several weeks to process and audit applications and conduct the randomized drawing.
• You will be notified through your portal account and email.
• All applicants will receive a notification, whether they were selected, waitlist, or not selected, but it may take several weeks as we work through the review and audit process, so please keep checking your portal account and email.
• Take the 1-hour California Dream For All education course which covers what shared appreciation is and how it affects your mortgage repayment. This course is delivered online and is free. Visit calhfadreamforall.com to get signed up and learn about shared appreciation now.

Documents Needed

• California Dream For All (DFA) Lender Pre-Approval Letter
• Government ID: Passports, driver’s license, state-issued ID, military ID, permanent residence cards, visas or employment authorization documents
• Foster care documentation (if applicable): Foster Care Verification Form/Letter or court documents
• The DFA Voucher application will require information for both parents of the designated first-generation borrower(s) including:
  • Name
  • Date of birth
  • Date of death (if applicable)
  • Current address
  • Proof of parent relationship
  • Birth Certificate
  • Adoption papers

Eligible Property Types

• Single-Family Residences (SFR)
• 2–4 Unit Properties
• Condominiums
• Planned Unit Developments (PUDs)