Applications will be open from February 24 to March 16, 2026, and the program is expected to benefit between 1,500 and 2,000 households statewide. All applicants will have equal chances of being selected.

The dream of owning a home for U.S. minorities is becoming a reality. Amid a sustained rise in housing prices and an affordability crisis that hits historically excluded communities the hardest, California is opening a window of opportunity for homebuyers. The initiative, known as the California Dream For All Shared Appreciation Loan Program, is led by the California Housing Finance Agency (CalHFA) and seeks to expand access to homeownership by providing direct support for down payments and closing costs.

The program was introduced during a briefing organized by American Community Media (ACoM), where state officials, community-based real estate agents, and a program beneficiary shared how this public policy aims to close racial, economic, and generational gaps in access to housing.

Applications will be accepted between February 24 and March 16, 2026, with an estimated 1,500 to 2,000 households expected to benefit statewide. Selection will be random, and all applicants will have the same chances regardless of when they apply.

A Housing Policy With an Intergenerational Focus

Eric Johnson, Information Officer for CalHFA’s Marketing and Communications Division, explained that the program is designed for first-generation homebuyers—a group historically excluded from the housing market.

“One of the earliest ways to build intergenerational wealth is to own a home and pass that asset on to the next generation,” Johnson said. “But many families—especially Black, Latino, and immigrant families—have been excluded from that opportunity.”

CalHFA defines a first-generation homebuyer as someone who has not owned a home in the past seven years or individuals who did not benefit from inherited wealth or family assets, including those who grew up in the foster care system. “Only one applicant needs to meet that criterion to qualify for the program,” Johnson noted.

The shared appreciation loan reduces the total mortgage amount, directly lowering monthly payments. “There are thousands of people with good credit who simply cannot save enough for a down payment,” Johnson explained. “This program exists to close that gap.”

From her direct work with buyers, Shonta Clark, a senior loan consultant and CalHFA program educator in Southern California, said the main barrier is not monthly affordability, but coming up with the upfront cash.

“There are families paying between $3,000 and $4,000 a month in rent, yet they’re told they can’t buy a home,” Clark said. “That’s not true. The issue isn’t income—it’s the down payment. That’s where programs like Dream For All make the difference.”

Clark emphasized that these processes are neither slow nor unworkable, as is often assumed. “We’ve closed CalHFA-assisted purchases in under 30 days. Homeownership in a month is possible if you work with the right people,” she said.

What About Young Latino and Asian Communities?

For Imelda Manzo, broker-owner of Premier One Realtors, the program’s impact is particularly significant for the Latino community—the youngest demographic in California and one of the most affected by limited access to homeownership.

“Latinos are the youngest demographic in California, with an average age of 31, yet we remain underserved,” Manzo said. “Many already qualify for a mortgage but can’t save for the down payment. That’s where this program is decisive.”

Manzo, an immigrant and real estate agent for over two decades, stressed that financial education is just as important as funding. “It’s not just about handing over the keys—it’s about making sure families understand the process and don’t lose their homes, as happened in 2008,” she warned.

From the perspective of Asian communities, Willie Lee, director of the homeownership program at the Shalom Center in Los Angeles, said barriers remain deeply entrenched. “Many Asian families are first-generation buyers and don’t have anyone to explain how the U.S. mortgage system works,” Lee said. “That’s compounded by language barriers and a lack of trust.”

For Lee, Dream For All “turns homeownership from a distant dream into an immediate possibility,” but only when paired with culturally competent counseling, multilingual workshops, and trusted community organizations.

Program Testimonials

Tiffany Duvernay-Smith, a program beneficiary, went from housing instability to homeownership in Los Angeles. “For years, I thought owning a home was impossible for me,” she said. “I ignored the program emails until someone told me, ‘Read them carefully.’ Applying was a leap of faith.”

Another program applicant, Duvernay-Smith recounted how she worked on her credit score, sought counseling, and persevered despite doubts. “The answer is always no until you ask,” she said. “And when you ask, there’s at least a 50% chance the answer will be yes.”