California Dream for All! Or 1500 People! As real estate professionals, you should be aware that the California Dream for All program registration window is opening soon, and preparation will be key for your buyers. Our team at Augusta Financial is actively preparing clients now, and we are a CalHFA-approved lender that can originate these loans. If you have buyers who may qualify, we’d be excited to walk them through the process step by step and ensure they're positioned correctly before the registration deadline. IMPORTANT DATES • Registration Opens: February 24, 2026 • Registration Closes: March 16, 2026 After March 16, CalHFA will conduct a lottery drawing and notify selected applicants. This program is NOT first-come, first-served - it is lottery-based. WHAT THE PROGRAM OFFERS The California Dream for All Shared Appreciation Loan provides eligible first-time homebuyers with up to 20% of the purchase price (capped at $150,000) to use toward down payment and/or closing costs. It pairs with a conventional first mortgage and can significantly reduce the upfront cash needed to buy a home. WHO QUALIFIES (BUYERS MUST MEET ALL REQUIREMENTS) First-Time Homebuyer The borrower(s) cannot have owned a home or been on title in the past 3 years. First-Generation Homebuyer Requirement At least one borrower must meet the first-generation definition, meaning: The borrower has not previously owned a home, AND The borrower's parents do not currently own a home in the U.S. California Residency Borrowers must be California residents. County Income Limits Household income must fall under the county limits. Approximate 2025/2026 maximum household income limits: • Los Angeles: $168,000 • Ventura: $207,000 • Orange: $216,000 • Riverside: $164,000 • Kern: $148,000 (Income limits vary by county and household size, and we can confirm the exact limit for any buyer.) Homebuyer Education Requirement Buyers must complete the required CalHFA-approved homebuyer education course. IMPORTANT NOTE ABOUT HOW REGISTRATION WORKS Buyers do NOT register through their Realtor or through the lender - they must register directly through CalHFA's official portal during the registration window. WHERE BUYERS REGISTER Buyers must submit their application through the official California Dream For All portal: https://www.calhfadreamforall.com This is the only official registration site for the lottery. WHAT BUYERS SHOULD BE DOING RIGHT NOW Because this is lottery-based, the buyers who are fully prepared have the best chance of success. Buyers should: • Get fully pre-approved with a CalHFA Dream For All-approved lender • Complete their homebuyer education course • Gather all required income and asset documentation • Be ready to submit their application through the portal between February 24 and March 16 A key part of the registration process is having the proper lender documentation ready - including a lender pre-approval letter - so buyers should not wait until the last minute. HOW WE CAN HELP YOU AND YOUR BUYERS Augusta Financial is actively helping buyers prepare for Dream For All, and we'd love to be your lending partner for this program. If you have clients who might qualify, send them our way early so we can: • Confirm eligibility • Review income limits and program rules • Help them complete the education requirement • Fully pre-approve them • Make sure they are ready to register properly during the open window Last year our office had 7 lottery winners, and this year we're hoping to help even more buyers get selected - but preparation is everything. If you have any questions or want to discuss a specific buyer scenario, feel free to reach out anytime. Please let me know if you have any questions or if you or any of your clients, friends, or family members need my guidance. I’m just a call, text, or email away. 📞 Direct Line: 661-291-2222 – Text OK 📞 Cell: 661-714-6258 – Text OK 📞 Office: 661-260-2970 ext. 2222 – Text OK 📧 Email: Mike@AugustaFinancial.com But wait, there’s more… Interest Rates Interest rates improved last week, but they have been up and down this week with no real change. We are day-to-day on rates right now. Loan Programs We do loans on Non-warrantable condos! We offer 12-day escrows for pre-approved buyers, including conventional, FHA/Jumbo/Bridge loans. We provide loans in all 50 states, so call me with anything you need. Government loans (FHA/VA/USDA) are in the 5s. Conventional loans up to $832,750 are in the mid to high 5’s. High-balance loans from $832,751 to $1,249,125 are also in the high 5 and 6s. Jumbo loans above $1,249,125 are in the high 5’s and 6’s. ARMS in the 5’s and some in the 6’s Bank statement loans are available again with 10% down, with larger down payments in the 6’s++. Profit and Loss Statement loans require 20% down - no bank statements needed, only a profit and loss statement! 0 down loans are available in the high 6s, with a minimum credit score of 620, up to $1,325,000. Private Money lenders offer Hard Money Loans with 35% down. No-Ratio Loans require a 30% down payment. DSCR (Debt Service Coverage Ratio) loans are available with as little as 15% down. Bridge Loans typically have an interest rate of 7.99% with limited fees, helping you get where you need to go! 3/2/1 Buydowns, 2/1 Buydowns, and 1/0 Buydowns are available at great starting rates! Please note that interest rates are subject to change without notice, and the information above reflects LA County Loan Limits. **Good News for Condos:** Nada today! **Bad News for Condos*** Diamond Head: We have some concerns over there. Per Fannie Mae, certain parts of the complex are approved, while other parts have outstanding critical repairs. CONDO HELP!!! If you have a listing or a buyer interested in a specific condo and are unsure whether it is warrantable or Non-warrantable, please call me, and we can look up Fannie’s list in real-time. We don’t know when something has changed, and it would be impossible to track everything day by day, but we don’t mind looking up a few items each day. The full state of California’s naughty list has been added to: MikeMeena.com! See the link below: https://mikemeena.com/non-warrantable-condos/ Let me know if you hear anything new about condos or townhouses. I am available every day if you need anything. 📞 Direct Line: 661-291-2222 – Text OK 📞 Cell: 661-714-6258 – Text OK 📞 Office: 661-260-2970 ext. 2222 – Text OK 📧 Email: Mike@AugustaFinancial.com Have a great day and an even better tomorrow! Please call me when you have a client who needs to borrow! Mike Meena President | Loan Officer Click to Call or Text: (661) 714-6258 This entry has 0 replies Comments are closed.
