California’s Dream For All (DFA), a state-run program that helps first-time homebuyers with upfront costs, will open its pre-registration portal on February 24.
According to the California Housing Finance Agency (CalHFA), applicants can submit pre-registration through March 16 at 5 p.m. Recipients will be selected through a random lottery, not on a first-come, first-served basis.
Dream For All provides support to reduce the burden of down payment costs for first-time buyers. The program offers up to 20% of a home’s price for a down payment or closing costs, capped at $150,000. After winners are announced, recipients must find a home and sign a purchase contract within 90 days.
When a recipient sells the home or transfers ownership, the down payment principal must be repaid. A certain percentage of the home’s value increase must also be repaid…