CalHFA Dream For All Program — FAQ | De Tu Lado Casas

Question 1

What is the CalHFA Dream For All program?

Accepted Answer

Dream For All is a California state program administered by CalHFA that provides up to 20% of the purchase price (maximum $150,000) as down payment assistance. The funds are repaid when you sell or refinance, plus a percentage of the home's appreciation. It is not a traditional loan — it is a shared appreciation second mortgage designed specifically for first-generation buyers.

Question 2

Who qualifies for Dream For All?

Accepted Answer

You must meet all of these: (1) First-generation buyer — neither you nor your parents have ever owned a home in the United States. Note: your parents could have owned a home in another country and you still qualify. (2) First-time buyer — you have not owned a home in the past 3 years. (3) Income within county limits (in Los Angeles County, approximately $160,000 household income). (4) Minimum 660 credit score. (5) Complete a HUD-approved homebuyer education course. Many English-dominant buyers in the Antelope Valley assume this program is not for them — if neither of your parents owned a home in the U.S., you are first-generation, full stop.

Question 3

What does 'first generation' mean for Dream For All?

Accepted Answer

First generation means that neither you nor your biological or adoptive parents have ever owned a home in the United States. If your parents owned a home in Mexico or another country but never in the U.S., you DO qualify as first generation. This definition specifically benefits immigrant families — it's one of the most powerful aspects of this program.

Question 4

How does the Dream For All lottery work?

Accepted Answer

Dream For All uses a random lottery system, not first-come-first-served. When a round opens, you submit your application within the application period. Winners are then selected at random. If you are not selected in one round, you can reapply in the next with no penalty. Each round has limited funds and thousands of applicants. The buyers who win are not the first to apply — they are the ones who are completely ready when the window opens. Pre-approval in hand, education course complete, documents ready. Elizabeth's job is to make sure your file is bulletproof before the lottery opens.

Question 5

How much money can I receive with Dream For All?

Accepted Answer

Up to 20% of the purchase price, with a maximum of $150,000. On a $500,000 home in Palmdale, that is $100,000 toward your down payment. On a $750,000 home, you would receive the $150,000 maximum. These funds cover the down payment and can also cover a portion of closing costs — effectively bringing your out-of-pocket cost to near zero for qualifying buyers.

Question 6

Can I apply for Dream For All with an ITIN?

Accepted Answer

Dream For All requires a valid Social Security Number (SSN). If you only have an ITIN, this specific program is not available to you. However, there are strong alternatives: ITIN loans from specialized lenders (Guild Mortgage, Griffin Funding) and CalHFA MyHome (up to $30,000 deferred second) which does not have the same SSN requirement. Schedule a free consultation and Elizabeth will identify every program available to your specific situation.

Question 7

How often does Dream For All open?

Accepted Answer

Dream For All opens in periodic rounds — typically once or twice per year depending on available state funds. Each round can be depleted in as few as 11 days. The preparation strategy is: get pre-approved with a CalHFA-approved lender, complete your homebuyer education course, and have your documents in order before any round opens. Elizabeth monitors program announcements and alerts her clients when a new round is coming.

Question 8

What happens if I am not selected in the lottery?

Accepted Answer

You can reapply in the next round with no penalty. In the meantime, you can explore CalHFA MyHome (up to $30,000), standard FHA (3.5% down), or ITIN loan programs. Many buyers stack multiple programs to bring their down payment to the absolute minimum. Elizabeth will map out your complete program picture so you are never relying on Dream For All alone as your only path.

The Dream For All Program —Built for the First in Your Family to Own

What the Program Actually Gives You

How the Shared Appreciation Works — And Why It Still Makes Sense

Do You Qualify? Read This Before You Assume You Don't.

Required ✓

Disqualifies You ✗

Everything You Need to Know Before the Next Round Opens

Your Family Has Been Part of This Journey From the Beginning