2026 CalHFA Dream For All Program: How to Get Ready

The Dream For All Shared Appreciation Loan provides up to 20% of a home’s purchase price (capped at $150,000) to help with down payment or closing costs. It works alongside a CalHFA Dream For All Conventional first mortgage.

Rather than making monthly payments on the assistance, borrowers repay the original amount plus a share of the home’s appreciation when the property is sold or transferred.

This shared appreciation model helps Californians become homeowners sooner while keeping their monthly costs manageable.

To be eligible, all borrowers must be first-time homebuyers, and at least one must meet CalHFA’s definition of a first-generation buyer. Borrowers also need to be California residents, stay within county income limits, and plan to live in the home as their primary residence.

Applications aren’t submitted directly to CalHFA—homebuyers must work with a CalHFA-approved lender, such as US Lending Company, to get qualified. Click here to connect with one of our loan officers today.

Borrowers are also required to complete homebuyer education and counseling through an approved course provider before closing.

Unlike many down payment assistance programs, Dream For All is not first-come, first-served. CalHFA uses a randomized drawing to distribute vouchers to selected applicants after the registration period closes.

The next registration window will open in early 2026, and once it does, thousands of hopeful buyers are expected to apply. Since vouchers are limited, being pre-approved in advance can help ensure you’re ready to act immediately if you’re selected.

A first-time homebuyer is someone who hasn’t owned or occupied a home in the last three years, nor lived in a home owned by a spouse during that time.

A first-generation homebuyer is someone who hasn’t owned a home or been on a mortgage within the last seven years, and whose parents do not currently own a home in the United States (or did not at the time of their passing). Individuals who have been in foster care also meet this definition. These requirements are unique to Dream For All and aim to help families build generational wealth through homeownership.

All first-time buyers using a CalHFA program must complete a homebuyer education course. CalHFA accepts eHome’s eight-hour online course ($100), which includes a one-on-one counseling session, or in-person/virtual classes through NeighborWorks America or a HUD-approved housing counseling agency. The course must be completed by at least one borrower on the loan and ensures new homeowners are fully prepared for the responsibilities of owning a home.

When the home is sold, the homeowner repays the original down payment assistance plus a portion of the home’s appreciation. For example, if CalHFA provides 20% toward your purchase, you’ll repay that 20% plus 20% of the home’s appreciation.

However, borrowers earning at or below 80% of the Area Median Income (AMI) qualify for a reduced repayment share—15% instead of 20%.

While you share a portion of future equity, this structure allows many buyers to enter the market years earlier than they otherwise could.

Start preparing now so you’re ready when the 2026 registration period begins.

• Gather your financial documents.
• Confirm you meet the first-time and first-generation criteria.
• Complete your homebuyer education early.
• Getting pre-approved with a CalHFA-approved lender will put you in the best position when the program opens.

At US Lending Company, we can help verify eligibility, review income limits for your county, and guide you step-by-step through the process so you’re ready to move quickly when applications launch.

The 2023 Dream For All launch filled up within days, and the 2026 round is expected to go even faster. Getting pre-approved now gives you the best chance of success once registration opens. If you’re a first-generation or first-time homebuyer in California, this could be your opportunity to make homeownership happen.

Let’s get you ready today. Contact Us to get started.

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