2024 California Dream For All Shared Appreciation Loan Program Highlights
What it is:
● The Dream For All Shared Appreciation Loan (Shared Appreciation Loan) is a shared appreciation loan program that
provides loans for down payment to qualified 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.
Max Loan Amount:
● The maximum loan amount is up to $150,000 or 20% of the sales price or appraised value, whichever is less
Who is eligible:
● First time home buyers
● Minimum credit score 660
● Current California Residents
● Borrowers not to exceed county income limits CalHFA Dream For All income limits (Santa Clara County is $287K)
● Maximum borrower contribution 5% of their funds or gift
● Maximum loan amount $150,000
● DFA May be used towards closing costs and down payment with an MI option
● All payments are deferred for the life of the FIRST mortgage
● Paying off the principle balance of either the first or second mortgage will trigger repayment of the appreciation
● Repayment is either 15% or 20% depending on the borrower’s Average Median Income at the time of application
● Maximum repayment of appreciation not to exceed $375,000 (or 2.5% of the original loan amount)
Contact me today to get started!
Jose Martinez 408-910-5357
July 31, 2017
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