A. The Dream For All Shared Appreciation Loan (Shared Appreciation Loan) is a shared appreciation loan program that provides loans for a down payment to qualified first-time homebuyers. Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home. Those repayments are then used to fund future homebuyer down payments
A. A first-time homebuyer is defined as someone who has not owned and occupied their own home in the last three years. That means if your borrower never owned a home, they are a first-time homebuyer. It also means that if they owned a home three or more years ago, but sold it, they are right back to being a first-time homebuyer again, and they can take advantage of all of the benefits of CalHFA’s first-time homebuyer programs. Exceptions may apply. Visit the CalHFA site for more details: Borrower Eligibility Requirements | CA Housing Finance Agency
A. Yes, payments are deferred for the life of the first mortgage
A. The Homeowner pays back the original loan amount plus 20% of any appreciation in the value of the home.
A. Yes, visit the Resources/Marketing Page on our website for CalHFA for a customizable version of our flyer
For additional information on the Dream for All Shared Appreciation Loan Program visit THE California Housing Finance Agency Page Loan Program Handbook for Lenders, Real Estate Agents, Non-Profits | CalHFA or their FAQ Page CalHFA Dream For All Share Appreciation Loan Program Frequently Asked Questions