The California Dream for All Shared Appreciation Loan program

The California Dream for All Shared Appreciation Loan program, launched in late March, aims to assist qualified first-time home buyers by offering loans worth up to 20% of the purchase price of a house or condominium. What makes these loans particularly enticing is that they carry no interest and require no monthly payments. This program provides a valuable opportunity for individuals to secure the necessary funds for their dream home without the burden of immediate financial obligations.

However, the program experienced an unexpected setback as it reached its application limit and was effectively halted within a mere two weeks. Approximately 2,300 individuals were fortunate enough to benefit from the program before its temporary suspension. The initial budget of $500 million, allocated as part of the 2022-23 budget, was subsequently reduced by 40% to $300 million due to a fiscal shortfall.

In more recent developments, the budget agreement struck between Governor Newsom and state lawmakers includes the restoration of $200 million in funding for the program. However, there is currently no specific date provided for the program’s resumption.

To ensure you remain informed and seize the opportunity when the program becomes available again, we invite you to fill out the form below. Stay updated on the latest news, including the revival of the program, application deadlines, and eligibility criteria. Make sure you don’t miss out on the chance to turn your California dream into a reality!

 

I’m interested in this program