CalHFA Dream for All Shared Appreciation Loan Program 2024 - Info Session

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January 18, 2024: CalHFA published the official program guidelines for the 2024 Dream for All Shared Appreciation Loan Program. A summary of the new program guidelines is below. We can now review your eligibility for the program and issue preapprovals while we wait for the CalHFA registration and lottery system to be published.
Apply at www.JasonMata.com
- Income limits are a bit higher than expected. The complete list can be found at www.jasonmata.com/californiad...
Sacramento - $180,000
Alameda - $234,000
Santa Clara - $287,000
San Joaquin - $158,000
Los Angeles - $155,000
Orange - $202,000
Riverside - $149,000
San Diego - $185,000
- Borrower(s) must be first-time homebuyers
- At least one borrower must be a First-Generational Homebuyer:
- Cannot have held an ownership interest in a home, been on title, or named in a mortgage in the past 7 years
- Homebuyer's parents do not have any present ownership interest in a home in the United States
- Borrower(s) are eligible for 20% or $150,000 in assistance - whichever is less
- The cap on additional down payment provided by the borrower is 5%
- CalHFA is currently working on its registration and lottery system, set to launch in Spring 2024
We are now issuing preapprovals to borrowers for the Dream for All Program. This preapproval is the first step in the process. You cannot shop for a home until you register with CalHFA and are chosen through the lottery system in Spring 2024.
Follow us on Instagram for more updates! @jmatamortgage
#calhfa #downpaymentassistance #financialtips #dreamforall #homebuyers

Опубликовано:

25 янв 2024

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Комментарии : 19

@ernestotellezlarios1589 3 месяца назад

Trying to buy first home but with the current market is really hard. This program is a big help for whoever qualifies. Is there any program that helps anyone who is a first-time buyer without taking into consideration your parents owning a home? It would be nice if for the future they don't take that into account. Perhaps instead of using that rule they could just replace it with if your parents benefited from any similar program to purchase their home then you can't qualify for this. I think that would be fair. Nice video.

@lmw1009 5 месяцев назад

We just got preapproved and we are so excited. Thank you for the opportunity and information!!!

@jmatamortgage 4 месяца назад

Awesome!

@CatherineHilton-wq1xi 3 месяца назад

Very Interesting thank you for going over this as a real estate agent I need to know the options out there !

@basilsabah169 4 месяца назад

I have a bad credit score. But my wife has a very good credit score. Can we jointly apply for this program. ? Or has to be one of us ??

@Tash26x 5 месяцев назад

When does this Loan Program close? When is the deadline to register?

@jmatamortgage 5 месяцев назад

Currently the registration is scheduled to open sometime in Spring 2024. We're currently preapproving clients to review eligibility on the program. Thanks!

@sihintessema3891 5 месяцев назад

can independent contractors be considered for the loan?

@jmatamortgage 5 месяцев назад

Yes, self employed clients can be considered.

@JBorda 4 месяца назад

We have plans to buy in 2025. When is good time to apply.

@jmatamortgage 4 месяца назад

The upcoming release of Dream for All would be designed for clients looking to purchase this year as there will be a time frame to use the lottery voucher for purchasing in 2024. We'd encourage you to connect with us to help you build a homebuying plan to purchase in 2025.

@150karina 5 месяцев назад

If I decide to own the home for the entire 30 years and home is fully paid. Do I still have to pay the 20% dream loan? If so, how would it be paid? Also I will qualify as a first generation home owner but my husband is a co-signer for his uncle for a home. Would we still qualify even if i dont currenlty work? My husband is the only one working.

@jmatamortgage 5 месяцев назад

Good Morning! Thanks for your message. If the Shared Appreciation Loan is held for 30 yrs then at the end of this time period the equity appreciation would be due along with the original 20% assistance. For the first generation requirement if your Husband cosigned for a property and has been on title for the last 7 years then unfortunately he would not qualify. However if you meet the first generation requirement and are included in the application with your Husband then that could be an option to meet the qualifying. Thanks!

@robyncarrillo 5 месяцев назад

@@jmatamortgage how is it due at the end of 30 years. In full?

@1995sanchezbaybee 5 месяцев назад

I am a first time buyer and I recently made an offer on a new construction home. Because the home wasn’t built on time, I pulled out of escrow. My question is am I still considered a first time buyer? Would I still qualify for this program?

@jmatamortgage 5 месяцев назад

Yes, you would still be considered a first-time buyer since you did not complete the purchase of the new construction home.

@robyncarrillo 5 месяцев назад

what immigration status qualifies

@jmatamortgage 5 месяцев назад

Please feel free to reach out to us at www.mortgageeducate.com and we can review eligibility.