The short answer
Dream For All lends first-generation homebuyers up to 20% of the price, capped at $150,000, for the down payment or closing costs. You do not make monthly payments on it. When you sell, transfer or pay off the main loan, you repay the amount plus a share of the home's gain in value. Vouchers are given by random drawing, not first come, first served.
The basics
- Up to 20% for down payment or closing costs, not more than $150,000.
- Used with CalHFA's Dream For All Conventional first mortgage. It is not paired with an FHA loan.
- At least one borrower must be a first-generation homebuyer.
- Combined household income must be within CalHFA's limit for the county.
- A free one-hour online course on shared appreciation is required.
How you get it
You register for a voucher during an open window. CalHFA then holds a randomized drawing. Registrants end up as selected, on a waitlist, or not selected. If a voucher frees up and you are next on the waitlist, CalHFA emails you.
CalHFA released its latest round of vouchers on May 20, 2026. Confirm on CalHFA's page whether a new registration window has been announced.
What "shared appreciation" means
You repay the original loan, plus a share of how much the home went up in value while you owned it. If the home gained a lot, you owe more than you borrowed. CalHFA publishes worked examples.
The exact share and any cap: add from CalHFA's examples page before publishing.
Who counts as first-generation
CalHFA has a specific definition. People often ask whether they qualify when their parents own a home outside the United States. Add CalHFA's definition word for word from its page before publishing.
If you were not selected
Other programs are open without a drawing. Down payment help in San Bernardino and Riverside Counties
What I see in real files
Jamal's own words go here: two to four sentences on what he sees in real files like this. Claude does not write this part.
Questions people ask next
Is it free money?
No. It is a loan repaid with a share of the home's gain in value.
Can I use it with FHA?
No. It goes with CalHFA's Dream For All Conventional first mortgage.
Is it first come, first served?
No. CalHFA says a randomized drawing selects who receives a voucher.