First-generation home buyers can apply for housing down payment assistance

Apply by March 16 for a down payment loan of up to $150,000. Loans do not need to be repaid until you sell or pay off the home.

Prospective first-generation home buyers can apply for a loan of up to $150,000 that would only be repaid when the house is eventually sold, transferred, or the mortgage paid off.

The loan can cover up to 20% of the home price and can be used for down payment or closing costs.

You may qualify if:

• At least one borrower is a first-generation homeowner
• All borrowers are first-time homeowners
• Household income is under $253,000 in Alameda County
• You're a California resident

Owners will repay the full loan amount along with a share of the increase in home value when the house is sold, transferred, or the first mortgage is paid off.

These state-funded loans are ideal if you can afford monthly mortgage payments but don't have the savings to cover a down payment.

To get started, check your eligibility, meet with an approved lender, and apply for the voucher lottery by March 16, 2026.

Apply to California Dream for All by March 16

The state program - known as California Dream for All - requires that applicants talk to an approved lender to get a pre-approval letter and register for a voucher during the registration period from February 24, 2026 to March 16, 2026.

Step one: Check eligibility

First, fill out a short form to check if your household is eligible. Eligibility criteria include:

• First-generation homebuyer: at least one borrower must not have been on a property title in the US in last seven years and borrower's parents must not presently be on a title in the US
• First-time homebuyers: all borrowers have had no previous property ownership within the last three years
• Income limit: must meet CalHFA Income Limits for the county you are purchasing in (up to $253,000 in Alameda County)

Step two: Work with a loan officer

Then reach out to an approved lender to request a pre-approval letter. Approved lenders in Berkeley include:

• BMO Bank
  • 1480 Shattuck Avenue | (510) 649-9191
  • 2495 Bancroft Way | (510) 935-7012
• CrossCountry Mortgage
  • 1577 Solano Avenue | (925) 395-3693
  • 1647 Hopkins Street, Suite B | (510) 367-5562
  • 2987 College Ave | (510) 254-4697
• Guaranteed Rate Affinity
  1495 Shattuck Avenue | (925) 254-1419
• Preferred Rate
  • 2820 College Avenue, Unit #3 | (510) 927-0557

You can also choose lenders outside of Berkeley from the state-approved lender list for this program.

Step three: Gather documents and complete training

Next, gather the documents you need to apply:

• California Dream for All Pre-Approval Letter completed by an approved lender
• Government-issued ID
• If applicable, proof of Foster Care
• Parents' names, dates of birth, address, date of death (if applicable)
• Proof of parent relationship: Birth certificate or adoption papers

You will also need to complete the California Dream for All education course. This free, one-hour online training will cover how shared appreciation works and what you will have to pay back when you sell or refinance your home.

Step four: Apply between Feb 24-Mar 16

Submit materials on the Dream for All application portal between February 24-March 16, 2026.

If eligible, you will be entered in a random lottery for a loan of up to 20% for down payment or closing costs, not to exceed $150,000.

If your lottery number is selected, you will have 90 days to shop for a home.

No payments will be due during the term of the loan, making your mortgage payment more affordable. At the end of the loan term (or earlier, if you choose to sell or refinance), you will repay the full loan, plus an additional amount based on the increase in property value.

For questions about California Dream for All, call (877) 922-5432.

California Dream for All can help you purchase your first home. Start working with an approved lender today to be ready for the February 24 - March 16, 2026 application window.

Links:

• California Dream For All Shared Appreciation Loan
  • Three-minute video on how to get ready to apply
  • Check eligibility
  • Approved lenders
  • Documents needed
  • California Dream for All education course

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