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California Dream For All Program – 20% Down Payment Assistance



The California Housing Finance Agency has introduced a new initiative called California Dream for All (CalHFA). This program is aimed at making homeownership more accessible and affordable for Californians. One of the key features of this program is that it offers 20% down payment assistance to eligible homebuyers.

 

Sacramento first time home buyer


People and families who meet the program's requirements can get help with a down payment through the CalHFA California Dream for All program. The program is for both first-time homebuyers and people who have owned a home in the past but are now renting. People and families who qualify can get help with the down payment of up to 20% of the price of a home, up to a maximum of $60,000,
 
To qualify for the program, applicants must meet certain limits on their income and how much they can spend. The income limit for this program varies by county, and the purchase price limit is set at $765,000 for most counties in California. Applicants must also have a credit score of at least 640 and meet other requirements for underwriting.

California Dream For All Program – 20% Down Payment Assistance Program

California Dream For All Program – 20% Down Payment Assistance Program
California Dream For All Program – 20% Down Payment Assistance Program

 

In addition to helping with the down payment, the California Dream for All program also gives eligible homebuyers mortgages with low interest rates. These mortgages are designed to be affordable, with low monthly payments over a 30-year term.
 
One of the great things about this program is that the down payment assistance is a grant, which means that it does not need to be repaid. This is a huge help to many families that may struggle with saving up for a substantial down payment. With this program, they can finally afford to put a down payment on their dream home.

California Dream For All Program – 20% Down Payment Assistance Program

Overall, the California Dream for All program is an excellent initiative by the CalHFA. It provides a great opportunity for Californians to achieve their dream of homeownership. By offering down payment assistance and low-interest rate mortgages, the program makes it easier for families to get the financial assistance they need to become homeowners. So, if you’re thinking about buying a home in California, this program may be just what you need to make your dream a reality. In addition, the program also offers homebuyer education and counseling to help families navigate the homebuying process and make informed decisions. This support can be especially helpful for first-time homebuyers who may be unfamiliar with the process.

Book the best time to chat with California mortgage broker Jason Whigham. Learn more about California Dream for All 20% down payment assistance program.


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