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State department finances down payment and closing cost assistance for first-time homebuyers
SACRAMENTO, August 18, 2025 — The California Housing Finance Agency is pleased to announce that it helped more than 6,800 California families buy their first home in Fiscal Year 2024-25, surpassing its annual goal by 20% and financing more than $3 billion in first mortgage loans. This included more than 1,700 down payment assistance loans through the Dream For All Shared Appreciation loan program, funded through the California State Budget.
The Dream For All program is limited to eligible first-time homebuyers, with at least one borrower required to be a first-generation homebuyer. The FY 2025-26 budget included additional program funding, with details on possible adjustments expected later this year.
CalHFA also launched a new set of homeownership programs financed by bond sales, providing more flexibility to respond to fluctuating interest rates. CalHFA introduced these programs later in the fiscal year and served more than 100 homebuyers, with participation expected to grow in the coming year.
In June, CalHFA celebrated National Homeownership Month by giving out more than 1,100 sessions of free homeownership counseling. It’s the 11th consecutive year that CalHFA has provided this resource, knowing that the U.S. Department of Housing and Urban Development has conducted studies showing that homebuyers who complete education courses like these have a much higher likelihood of keeping current on their loans and avoiding defaults or foreclosures.
“With homeownership feeling farther and farther out of reach for hard-working Californians, we are proud to have helped almost 7,000 families overcome that challenge and move into a new home they can afford,” said CalHFA Chief Deputy Director Rebecca Franklin.
Visit CalHFA’s website for information on our programs and how to take the first steps toward homeownership. You can also find a loan officer and learn more about homebuyer education options.
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The California Housing Finance Agency was created in 1975 with the goal of helping more Californians find a place to call home. CalHFA's Single Family Lending Division has invested more than $37 billion to help more than 230,000 families buy their first home with a mortgage they can afford. CalHFA is a self-supporting state agency that doesn't rely on taxpayer dollars to fund its operations. For more information on CalHFA programs, and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free at 877.9.CalHFA (877.922.5432).
Click here to view the full press release on the CalHFA website.
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