Tuesday, July 1, 2025

New California Loan Program Will Lend Up to 20% Down Payment and Closing Costs for First-Time Homebuyers

The California Housing Finance Agency (CalHFA) recently launched a new program to help make homeownership more affordable.

While CalHFA has long provided assistance to low to moderate-income first-time home buyers, the new program, the California Dream for All Shared Appreciation Loan program, is a supercharged way of helping out homebuyers, according to a report by KPBS.

It provides up to 20% of the home purchase price for the down payment and closing costs to homebuyers earning up to $211,000, on a 0% interest rate, shared CalHFA director of home ownership Ellen Martin. 

The program has shared appreciation where upon sale or transfer of the property, the borrower repays the original down payment loan, plus 20% of the appreciation value of the home. Interest rates, meanwhile, will vary depending on your financial circumstances, lender fees, and other factors, according to CalHFA’s website.

To be eligible, the borrower must be a first-time homebuyer planning on occupying the home as a primary residence. The program also requires borrowers to complete two levels of education counseling and to obtain a certificate of completion through an eligible homebuyer counseling organization — this is because CalHFA believes that education and counseling are “critical to the success and happiness of a homeowner.”

The downside is that the state has only allotted $300 million to the program, with home prices still high, which means that the limited slots will run out fast. 


Information for this briefing was found via KPBS, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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