Can You Afford a Mortgage but Not the Down Payment? Dream For All Offers Up to $150K

February 5, 2026

California's Housing Finance Agency is reopening its Dream For All program from February 24 to March 16, offering up to $150,000 in down payment assistance to help first-generation homebuyers purchase their first homes. The program targets individuals who haven't owned a home in seven years and whose parents don't currently own property, with particular emphasis on historically disadvantaged communities that faced discriminatory housing barriers. With $150-200 million allocated for 2026, the initiative aims to assist 1,000-1,500 families through a random selection process and shared appreciation loans that require repayment when homes are sold.

Who is affected

First-generation homebuyers in California who haven't owned homes in the past seven years and whose parents don't currently own homes
Black Californians who face high homelessness rates and significant homeownership barriers
Foster youth who are automatically considered first-generation homebuyers
People living with disabilities and domestic violence survivors
Communities in Qualified Census Tracts that historically faced discriminatory housing barriers
Tiffany Duvernay-Smith, a formerly homeless individual who became a homeowner through the program
Approximately 1,000-1,500 families expected to benefit in 2026

What action is being taken

CalHFA is reopening Dream For All program applications from February 24 through March 16
The program is using a random selection process to ensure equitable access
CalHFA is providing up to 20% of home purchase price or appraised value (capped at $150,000) in down payment assistance
A minimum of 10% of funds are being directed to applicants in Qualified Census Tracts
CalHFA-approved lenders are working with applicants to process applications
Shonta Clark is actively educating potential homebuyers and closing sales through the program

Why it matters

The Dream For All program addresses critical generational inequities and wealth gaps that have prevented many Californians, particularly Black residents, from achieving homeownership due to decades of discriminatory housing policies, redlining, and systemic barriers. It provides essential support to people with steady incomes and good credit who cannot save the substantial down payments required in California's expensive housing market. The program creates pathways to long-term financial stability, potentially saving participants an average of $1,200 per month on mortgage payments and enabling wealth-building opportunities for communities historically excluded from homeownership. This initiative is particularly significant for addressing California's homelessness crisis and closing homeownership gaps.

What's next

Applications open on February 24 and close on March 16
Interested homebuyers should get pre-approved, complete credit checks, and gather required documents before the February 24 application window
CalHFA expects to make $150-200 million available in 2026 to help 1,000-1,500 families
When homes are sold, the original loan plus appreciation portion must be repaid, allowing CalHFA to reinvest funds to help more Californians

Read full article from source: The San Diego Voice & Viewpoint