What Is CalHFA's Dream For All Program, and Can It Help Me Buy?

What is CalHFA's Dream For All program, and can it help you buy a home in Orange County? It is a state program run by the California Housing Finance Agency (CalHFA) that lends first-generation buyers part of their down payment, and you share some of your home's future gain with the program instead of paying monthly on that piece.

I'm Jeanette Nelson, a REALTOR® with Jeanette Nelson Real Estate, Keller Williams Realty, serving Orange County, Huntington Beach, Costa Mesa, Fountain Valley, and surrounding areas. First-time buyers ask me about this program often, so here is what CalHFA's own pages say today.

This is general information, not lending advice. A CalHFA-approved lender can tell you what fits your situation.

CalHFA's Dream For All page says the loan offers up to 20% of the price for down payment or closing costs, not to exceed $150,000.

It is a loan, not a grant. It sits behind your first mortgage as a second lien on the home.

CalHFA lists these requirements on its program page:

• At least one borrower is a first-generation homebuyer. CalHFA defines this on its borrower eligibility page. In general, it looks at whether your parents currently own a home in the United States, and there is also a path for borrowers who were in foster care. Read CalHFA's exact definition, since it has specific wording.
• At least one borrower is a current California resident.
• All borrowers are first-time homebuyers.
• Household income is within CalHFA's limits for the county where you buy. CalHFA publishes those limits by county, so check the current Orange County figure on its income limits page.
• Education. One occupying first-time borrower completes homebuyer education and counseling, and CalHFA's page also lists a free one-hour online Dream For All course.

You also work with a CalHFA-approved lender. CalHFA's January 2026 announcement said applicants needed a pre-approval letter from one of those lenders before applying.

There is no monthly payment on the Dream For All loan. CalHFA's page says you repay it when the home is sold or transferred, or when the first mortgage is paid in full.

At that point, you repay the original amount plus a share of the home's appreciation. CalHFA's page says the standard share is 20% of any appreciation. Borrowers at or below 80% of area median income pay a reduced share, which CalHFA's example shows as 15%.

Here is a simple way to picture it. If the home gains value, the program shares in that gain. If it doesn't, you are not paying the program a share of gain that never happened. CalHFA's documents also describe a cap on the program's share. Ask your lender to walk you through a sample payoff with your own numbers.

Dream For All does not work first come, first served. CalHFA uses a randomized drawing to issue vouchers. CalHFA's January 2026 press release said the application window ran from February 24 to March 16, 2026, and that selected applicants then had 90 days to shop for a home.

Today, CalHFA's Dream For All page says the application portal is closed and no new applications can be started. It also notes that additional vouchers were released to people who already applied.

Programs like this can change between rounds. The amount, the rules and the dates may not stay the same next time. Before you plan around it, check the official CalHFA Dream For All page and ask a CalHFA-approved lender what is open now.

You have options while you wait:

1. Ask about CalHFA's MyHome Assistance Program. It is a deferred-payment junior loan for down payment and/or closing costs for eligible first-time buyers. CalHFA's page lists income limits and a homebuyer education requirement.
2. Get pre-approved now. A lender can show you what you qualify for, with or without assistance.
3. Take the homebuyer education course early. Many programs require one, and finishing it ahead of time saves you a step later.
4. Build your savings plan. See how much should I save to buy my first home and what will I pay at closing.

If you want to know whether Dream For All or another program might fit your plan, I'd love to talk it through with you and connect you with a CalHFA-approved lender. Call or text me at 714.366.8575 | DRE: 01397168, or contact me. Jeanette Nelson is a REALTOR® with Jeanette Nelson Real Estate, Keller Williams Realty, serving Orange County, Huntington Beach, Costa Mesa, Fountain Valley, and surrounding areas.