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Your Path to Homeownership: California’s Dream For All Shared Appreciation Loan Returns!

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Hey there future homeowners!

I’m thrilled to bring you some exciting news – California is rolling out another round of down payment assistance, and you don’t want to miss out on this golden opportunity through the Dream For All Shared Appreciation Loan program! 🏡💰 If you’ve heard whispers about these funds disappearing in a flash last time, well, you’re not dreaming – and this second run comes with some fresh updates on how to secure those funds.

Unlocking Your Homeownership Journey: Dream For All Shared Appreciation Loan Unveiled Let’s break it down – the Dream For All Shared Appreciation Loan is your ticket to making homeownership dreams a reality. Designed for first-time homebuyers, it partners seamlessly with the Dream For All Conventional first mortgage to cover those pesky down payment and closing costs. The twist? When you sell or transfer your home, you’ll repay the original down payment loan plus a share of the appreciation in your home’s value.

What’s New in Phase 2? Hold onto your hats, folks! CalHFA is shaking things up with a brand new reservation process for Phase 2. They’re all about giving everyone an equal shot, so they’re tossing in a randomized selection process to issue DFA Vouchers to applicants. It’s like a little lottery for your dream home fund – who doesn’t love a bit of suspense and excitement? 🎉

Ready, Set, Homeownership! So, you’re ready to take the plunge? The journey starts by having a chat with an approved lender pronto. Get those ducks in a row and have your required documents ready to roll. The portal for pre-registration swings open on April 3, 2024, at 8 am PDT, and you’ve got until April 29, 2024, at 5 pm PDT to toss your hat into the ring.

The Countdown to Your Dream Home Picture this – your application gets picked, and you snag a DFA Voucher. What’s next? You’ve got a sweet 90 days to scout out your dream home, lock in that contract, and have your lender reserve the loan through CalHFA’s Mortgage Access System (MAS). The countdown to turning your homeownership dreams into reality has officially begun!

Friendly Reminder: Act Now! Yes, that’s right, friend! Time is of the essence, and you’ve got until April to get everything lined up. Shoot me an email, and let’s get you connected with a qualified lender who can guide you through the process and get you primed for homeownership success.

Here’s to your journey to home sweet home! 🏠✨

Bianca Kofman Baca

San Francisco Bay Area Real Estate Agent

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