TL;DR – What Is the Dream For All Program and Can You Use It in Lincoln?
Yes! The California Dream For All Shared Appreciation Loan Program offers first-time homebuyers in Lincoln, CA up to 20% of a home’s purchase price to use as a down payment. In exchange, the state receives a share of your home’s appreciation when you sell or refinance. This unique model can make homeownership in Lincoln far more achievable for residents without large savings.
What Is the California Dream For All Shared Appreciation Loan?
The Dream For All program is a state-backed loan from CalHFA that helps first-time buyers cover their down payment with a 0% interest, shared appreciation loan.
Key Highlights:
- Loan is up to 20% of the purchase price
- No interest or monthly payments
- State is repaid its original share plus a portion of the home’s appreciation when sold or refinanced
This program is designed to combat California’s high cost of living and housing shortage by helping qualified residents build generational wealth.
Who Qualifies in Lincoln, CA?
To use Dream For All in Lincoln, you must meet these general criteria:
- First-Time Homebuyer: No ownership in the last 3 years
- California Resident
- Income Limits: For Placer County, income must fall below $202,000/year (as of latest update)
- Credit Score: Minimum 660 (or 680 for conventional loans)
- Homebuyer Education Course: Required
- Property Must Be Owner-Occupied
Check Placer County Income Limits
How the Shared Appreciation Loan Actually Works
Here’s a simple example:
- You buy a home for $500,000
- The state provides a $100,000 down payment loan (20%)
- 10 years later, you sell for $650,000
- Appreciation = $150,000
- You repay the original $100K plus 20% of the $150K gain ($30K)
- Total repayment = $130,000
This model helps you get into a home sooner, and the state shares in your long-term success.
How Much Can You Receive as a Lincoln Homebuyer?
- Up to 20% of the home’s purchase price, capped at local limits
- In Lincoln, this can mean $80K–$120K+ in down payment support depending on the property
You must still qualify for the primary mortgage through a CalHFA-approved lender.
Dream For All Application Process (Step-by-Step)
- Get Pre-Approved with a participating lender like Fairway Lincoln
- Ensure Eligibility (income, first-time buyer, education course)
- Reserve Dream For All Funds (when program window opens)
- Work with Realtor & Lender to find a qualifying home
- Apply & Underwrite both the mortgage and Dream For All loan
- Close the Loan and move in!
Important: Dream For All funds are limited and released in phases. When funding is announced, move quickly.
Tips to Strengthen Your Application in Lincoln
- Prepare Financials Early: Tax returns, W-2s, pay stubs
- Take the Education Course Now: Don’t wait until you find a home
- Work with a Local Expert: Lincoln lenders familiar with CalHFA can streamline the process
- Watch for Program Release Dates: Funding windows are short (previous round closed in 11 days)
Real Scenarios: How Lincoln Buyers Are Using Dream For All
“We had a great income but no savings after years of rent. Dream For All gave us 20% down, and now we own a new build in Lincoln Crossing.” – Emily & Marcus T.
“As a single mom, I thought I’d be renting forever. I combined Dream For All with CalHFA’s first mortgage and got into a condo near downtown Lincoln.” – Teresa B.
“We followed the Fairway team’s advice, submitted our application the day funds opened, and got approved in 48 hours. Now we have a yard for the kids.” – Raj and Priya V.
FAQ: California Dream For All Program
Q: Is the program available year-round?
A: No. It opens in limited funding rounds. Watch CalHFA’s updates.
Q: Do I need to repay the loan monthly?
A: No monthly payments. Repayment only occurs at sale or refinance.
Q: Can I use this with other programs?
A: Yes, it pairs well with CalHFA’s MyHome and ZIP programs.
Q: What if I refinance later to remove PMI?
A: You’ll need to repay the Dream For All loan plus shared appreciation.
Q: Can I buy a duplex or investment property?
A: No. The home must be a single-family, owner-occupied residence.
Final Thoughts: Is Dream For All Right For You?
If you’re a first-time homebuyer in Lincoln, CA, and have the income to qualify but lack a down payment, this program is a game-changer. With expert guidance and quick action when the program opens, you can turn your dream of homeownership into a reality.
