The California Housing Finance Agency (CalHFA) Dream For All Shared Appreciation Loan is back for 2026 and offering a powerful down payment assistance opportunity for first generation, first time homebuyers… especially here in Los Angeles, where saving for a down payment can feel daunting. The original program release ran out of funds in just a few days. The newer program had been redesigned so it’s not a “first come first served” allocation, but more of a lottery/voucher approach. I have many Down Payment Assistance programs available, but this is a real good one, if you qualify.
What the Dream For All Program Is
The Dream For All program provides up to 20% of the purchase price or a maximum of $150,000 in down payment and closing cost assistance. Importantly, it’s structured as a shared appreciation loan — meaning borrowers don’t make monthly payments on this portion, but repay it when they sell, refinance, or pay off the first mortgage, including a share of any home price appreciation.
2026 Application Dates You Need to Know
For the 2026 round, CalHFA has set a limited application window:
📅 Registration opens: February 24, 2026
📅 Registration closes: March 16, 2026
During this period, eligible buyers must register for a voucher — essentially a spot in the program. After the window closes, CalHFA performs a randomized selection (lottery) drawing to issue vouchers to applicants rather than a first-come, first-served system.
Receiving a voucher doesn’t mean you immediately get the loan — it means you have the opportunity to proceed under the program’s rules and timeline.
Income Eligibility for Los Angeles
To qualify, your household income must meet CalHFA’s limits for the county in which you’re buying. For Los Angeles County, the estimated income limit for 2026 is approximately:
🏠 Los Angeles County income limit: ~$168,000 (subject to official CalHFA income guidelines). Note: other Down Payment Assistance programs can have higher income allowance.
Limits are based on county area median income and may vary by household size.
Eligibility Basics
To participate in Dream For All, you must:
- Be a first time homebuyer (no primary residence owned in roughly the last 3 years)
- Have at least one borrower be first generation (parents did not own a home in the U.S.). This is big as they want the system to be specifically a new generation of wealth.
- Be a current California resident
- Meet CalHFA’s income limits for the county of purchase
- Work with a CalHFA approved lender to obtain a Dream For All pre-approval letter prior to registration
How the Lottery/Voucher Process Works
Unlike some assistance programs that operate on “first come, first served,” the Dream For All program uses a randomized selection (lottery) process:
- Pre-approval: First, get pre-approved with a CalHFA approved lender (this is required to register).
- Register within the window: Between Feb. 24 and March 16 log into CalHFA’s Dream For All portal and submit your application, including documents and your lender pre-approval letter.
- Random drawing: CalHFA conducts a random drawing from all registrants who submitted complete applications in that window.
- Voucher issued: If selected, you receive a voucher that lets you proceed toward conditional approval and then closing. This is NOT first come, first served, it’s randomized to help ensure equitable access across income levels and regions.
- Home shopping period: Once you receive a voucher and satisfy lender requirements, you’ll have a period (typically 90 days) to find a home to purchase under the program conditions. This system is great, as the voucher as a guarantee to a seller, and strengthens a buyer’s negotiation capability.
How Shared Appreciation Works
When you sell, refinance, or pay off your first mortgage, you repay:
- The original assistance amount, and
- A portion of the home’s appreciation (based on income tier and shared appreciation formula). No monthly payments on this loan, or interest accumulation.
This repayment goes back into the CalHFA program to help future buyers, making Dream For All a “revolving” resource for statewide homeownership support.
Other Down Payment Assistance Programs Are Out There
Dream For All is one of the most talked about programs, but it’s not the only one available. Buyers in Los Angeles may also qualify for:
- City and county down payment assistance programs
- Silent second loans
- Forgivable grants for teachers, first responders, or other special categories
- Local housing authority assistance programs
Each program has unique requirements and benefits — evaluating them side-by-side can reveal better opportunities for many buyers.
As a seasoned mortgage broker, I’m approved with multiple wholesale lenders that originate Dream For All and other down payment assistance loans. I can:
- Evaluate your eligibility early
- Help you obtain the required CalHFA pre-approval letter
- Walk you through the registration and documentation process
- Compare Dream For All to other DPA options that may fit your financial goals
If interested, don’t wait until the application window closes — let’s get you ready now. Call or message me, and together we’ll put a plan in place to take advantage of every opportunity available toward homeownership in 2026.
If you are in the Los Angeles area, and have any questions or real estate sales or financing needs, feel free to contact me
Ron Henderson GRI, SRES, SFR, RECS, CIAS, CREN, GREEN
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – Southland Regional Association of Realtors (2025)
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
DRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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