Opportunities Presented by the California Dream for All Shared Appreciation Program
by Contributing Writer, Silver M.
Home ownership is a dream for many Black Americans that seems out of reach, especially in pricy California and the current cost of living. California Black Media brought together a panel to discuss opportunities opening doors to homeownership and alert you to a unique program that will be open to applications shortly.
The California Dream for All program will be open to applications from February 24 to March 16, 2026. This program can help cover the 20% down payment, making your offer more appealing and the mortgage payment more affordable. Continue reading for all the details.
Racial Inequality in Home Ownership
Homeownership barriers exist, and you’ve heard many members discuss the effects of redlining, housing discrimination, and unequal access to wealth building vehicles affecting economic mobility for Black families. To underline the point, black homeownership in California is statistically lower than that of other racial groups, with just 41% of black families owning a home.
Pathways to first-generation homeownership can seem hard to use, out of reach, or for other people. However, owning a home is a key to generational wealth building. Now, you can be part of transforming the California Dream to include everyone while building generational stability for your family.
Definitions
The agencies discussed in this piece are the California Housing Finance Agency (CALHFA) and the United States Department of Housing and Urban Development (HUD). A first-time homebuyer is someone who has not owned and occupied their own home for the last three years. A first-generation homebuyer is someone who has not owned and occupied their own home in the last 7 years. Their parents have also not owned according to the first-generation definition.
Of additional note, programs may confer first-generation homebuyer status if you went through foster care or are fully estranged from your parents, regardless of whether your parents own a home or not. A HUD-approved counselor can provide further details.
California Dream for All Program
“To every single one of those families that we’ve helped, it’s changed their lives. It means they can accumulate wealth for their kids, their grandkids, start a whole new path.” – Eric Johnson, California Housing Finance Agency.
The California Dream For All Loan Appreciation Program began in 2021 and is open for applications during limited windows. The program loans first-generation homebuyers up to 20% of a home, condo, or townhome as a lump sum for the down payment. The loan must then be repaid when the home is sold, or the original mortgage is paid off, plus interest.
This program is specifically for first-generation homebuyers in California. It is part of a series of programs for advancing housing equity in California. As Eric Johnson, a member of the California Housing Finance Agency, put it, you see a lot of people making 3000- and 4000- dollar monthly rent payments but not being able to come up with a lump sum for a down payment. The program addresses that mismatch.
Eric suggests starting to talk to a loan officer now, before the limited application window opens on February 24. You can get with a loan officer, speak with a HUD counselor, and start putting together your application packet. CALHFA offers many free resources, and additional information available about Dream for All.
Real Impact
“Whatever the doubts are, I just really believe that, if there’s a house with your name on it, nothing can stop you. But you do have to make the effort.” – Tiffany Duvernay-Smith, Dream For All Program Beneficiary.
Tiffany Duvernay-Smith worked in housing justice and equitable housing access advocacy. Still, she didn’t actually think she’d ever own a home in California. She had gone through a period of homelessness, and her husband was formerly incarcerated. Tiffany saw the program open a few times without applying, but finally started the process with the support in 2025.
When you hear Tiffany’s story, there are a lot of ups and downs. She applied to the program, but went up and down on how much she would get. The system randomly issued lottery numbers, so she had to wait most of the year. During that time, she and her husband continued improving their credit scores and income to qualify for a larger mortgage.
She worked incredibly closely with her loan officer, Shonta Clark. They texted regularly for months. Her lottery number was in one of the last voucher pools to release in September 2025, and she was able to purchase a home with down payment assistance in California. That one application to Dream for All changed Tiffany’s life.
Real Preparation for California Dream for All Applicants
“I’ve bumped into people 55 to 60 who have never owned in their life. That’s a generation that never owned. And now they have their sons and daughters wanting to buy and wanting to know how to buy and what’s the process, right? So how do we hold onto that dream? How do we make that dream come true for us?” – Shonta Clark, Senior Loan Officer, New American Funding Inc., Inglewood Branch.
The CalHFA Dream For All application window is approaching quickly, and is only open from February 24 to March 16. If you want to apply for this unique opportunity, getting with a knowledgeable loan officer quickly and planning to attend your HUD-approved first-time homebuyer class as soon as possible are key to success.
A first-time homebuyer class is one of the best ways to find out your options. The HUD-approved classes help you set realistic budgets, understand down payment assistance programs, and look at your overall financial health. You may even find out about programs realtors haven’t heard about yet.
Additional steps you can take include:
- Requesting soft credit pull.
- Using a reputable credit repair agency.
- Going to more homebuyer classes.
- Registering to see a HUD counsellor.
- Finding an experienced loan officer.
Experienced loan officers like Shonta Clark at New American Funding Inc. can close loans in as little as 30 days, from start to finish. They’re also knowledgeable about various affordable housing opportunities programs at both the state and federal levels to help you step into homeownership, even if you don’t get into the Dream for All program.
Conclusion
Empowering Black families through ownership creates homeownership equity and helps with closing the racial wealth gap, as well as improves your individual situation. Knowing your options and taking the first step towards the possibility can change your whole life.
The window to apply for the Dream for All, a unique first-time homebuyer assistance program, is February 24 to March 16.
