Can a 1st time homebuyer using the Dream for All Shared Appreciation loan program contribute their own funds to the down payment? For example, for a $500,000 home, add $50,000 to the $100,000 (20%) loan to make it a $150,000 down payment.

First-Time Homebuyers

Can a 1st time homebuyer using the Dream for All Shared Appreciation loan program contribute their own funds to the down payment? For example, for a $500,000 home, add $50,000 to the $100,000 (20%) loan to make it a $150,000 down payment.

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Yes, that would work. There is a minimum Loan To Value ratio of 70%, so you can't come in with any more than 10% of the purchase price of your own funds. If buyers have that much cash available, then they might consider using one of our other loan products.

CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program.

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Can a 1st time homebuyer using the Dream for All Shared Appreciation loan program contribute their own funds to the down payment? For example, for a $500,000 home, add $50,000 to the $100,000 (20%) loan to make it a $150,000 down payment.

https://www.fuzeqna.com/calhfa/ext/kbdetail.aspx?kbid=665