URGENT UPDATE: The California Housing Finance Agency’s (CalHFA) highly anticipated Dream For All program is reopening applications on February 24, 2026, offering first-generation homebuyers up to $150,000 in down payment assistance. This initiative aims to transform lives by making homeownership accessible to those who can afford a mortgage but struggle with hefty down payments.
Tiffany Duvernay-Smith, a former homeless individual, embodies the program’s success. “I came from homelessness, and I didn’t know my story would change from homeless to homeowner,” she shares, highlighting the program’s potential to change lives. Her application was one of many successful stories, as CalHFA aims to assist 1,000 to 1,500 families each year with a budget of approximately $300 million.
Applications for the Dream For All program will close on March 16, 2026. The program utilizes a random selection process to ensure equitable access, with 10% of funds reserved for applicants in Qualified Census Tracts — areas that have historically faced barriers to homeownership. Participants can receive up to 20% of the home’s purchase price in down payment assistance, capped at $150,000.
Regina Brown Wilson, Executive Director of California Black Media, emphasizes the importance of this program, stating, “Programs like Dream For All are critical because they directly address the generational inequities that have long shut our community out of the housing market.” This is particularly vital for Black Californians, who encounter significant obstacles due to historical discrimination and economic disparities.
CalHFA estimates that the funding will positively impact around 2,000 households through the 2025–26 budget allocation. Eric Johnson, CalHFA’s Marketing and Communications Officer, urges those with steady jobs and good credit who struggle to save for down payments to take advantage of this opportunity. “The Legislature has dedicated hundreds of millions of dollars to this program to help as many people as possible,” Johnson states.
Eligibility focuses on first-generation homebuyers, defined as individuals who have not owned a home in the past seven years. For those interested, it’s crucial to work with CalHFA-approved lenders and prepare necessary documentation ahead of time. The program is designed to help many prospective homeowners who may be unaware of the resources available to them.
Duvernay-Smith initially overlooked the program but ultimately applied just before the deadline. She urges others to take the leap despite fears and doubts. “But just take a step. It’s possible,” she insists.
Experts like Shonta Clark, a CalHFA senior loan consultant, stress the importance of community awareness about the program. “We have to get the word out so people can take advantage of this opportunity to build wealth,” she says, highlighting the program’s potential for economic stability.
The Dream For All program not only helps individuals secure homes but also contributes to the broader economy. Studies indicate that shared appreciation loans can save families around $1,200 per month on mortgage payments, allowing them to allocate their income to other essentials.
As the application date approaches, Johnson encourages applicants to remain optimistic. “Despite high interest rates and high prices, it is still possible to buy your first home in California. Believe in yourself and know that homeownership is meant for you,” he advises.
The Dream For All program represents a vital lifeline for countless Californians seeking homeownership. With applications opening soon, interested individuals must act quickly to seize this life-changing opportunity.
