This is the third round of the now 4-year-old program that launched in March 2023.
Between Tuesday, Feb. 24 and March 16, first-generation homebuyers in California can apply for Dream for All, a down payment loan of up to $150,000, offered by. A lottery system will select approximately 1,300 eligible applicants who are either buying properties on their own or in a pair.
When those borrowers resell their homes later on, the CalHFA program requires homeowners repay 15% to 20% of the appreciated value to a fund that program leaders hope will sustain Dream For All for the long run.Despite enthusiasm for the loan in past years, Orange County-based mortgage officer Rajat Jetley has noticed interest taper off ahead of this third rollout, attributing the disinterest to relentlessly high home prices. “It’s possible people have done the math and figured out even with 20% it’s still a sizable payment that they don’t feel comfortable making,” Jetley said. “It’s still outside their budget.”Why a liar loan is one easy option for self-employed homebuyersWhy the Sixth Street Viaduct went dark, and why it’s been so hard to protectCities gearing up for a fight against LA County’s one-half cent healthcare sales taxPioneering art dealer’s son going to prison for scheme to take over Sherman Oaks victims’ estatesNorthridge girl, 13, rescued from Pennsylvania man in Castaic motel, authorities say
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