California Dream For All Program Reopens for Home Down Payment Assistance

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California's Dream For All program, which offers up to $150,000 in down payment assistance for first-generation homebuyers, will begin accepting new applications on February 24th. The program, run by the California Housing Finance Agency, aims to help address the challenge of affording a home in the state by allowing buyers to make a larger down payment and avoid mortgage insurance.

Why it matters

The high cost of housing in California has made it increasingly difficult for first-time and first-generation homebuyers to afford a home. This program is designed to provide critical down payment assistance to help these buyers overcome this barrier and achieve the dream of homeownership, which can be a key driver of generational wealth.

The details

The Dream For All program will make between $150 million and $200 million available in 2026 through a lottery system. Eligible applicants must be first-generation homebuyers, meaning neither they nor their spouse have previously owned a home. They must also meet income and other requirements. The program provides up to 20% of the home's purchase price or appraised value, with a cap of $150,000, to use as a down payment. This can help buyers avoid mortgage insurance and lower their monthly payments.

• The Dream For All program will begin accepting applications on February 24, 2026.
• Since 2023, the program has had two previous rounds of financing and has helped nearly 4,000 families purchase homes.

What they’re saying

What’s next

Potential homebuyers must work with one of CalHFA's Approved Lenders to obtain a pre-approval letter before submitting their application, and they must also complete a free one-hour online education course about the program.