California’s Dream For All program is offering renewed hope to local renters priced out of the housing market across the San Gabriel Valley, including El Monte, Baldwin Park, and Rosemead. Administered by the California Housing Finance Agency, the initiative provides major down payment assistance to eligible first-generation, first-time homebuyers.
The Dream For All program targets one of the biggest barriers to homeownership: upfront costs. For many working families in the Mid Valley, saving for a down payment remains out of reach even with stable incomes. State officials say the program is designed to close that gap while creating long-term, generational stability.
How The Dream For All Program Works
Under the Dream For All program, qualified buyers can receive up to 20 percent of a home’s purchase price to help cover a down payment or closing costs. The assistance is capped at $150,000 and is paired with a traditional first mortgage from a CalHFA-approved lender.
The support comes in the form of a shared appreciation loan. Homebuyers do not make monthly payments on this portion. Repayment occurs only when the home is sold, refinanced, transferred, or when the original mortgage term ends. At that point, the homeowner repays the initial assistance plus a share of the home’s appreciation.
State housing officials say this structure allows public funds to be recycled. As loans are repaid, the money becomes available to help future buyers enter the market.
Lottery System Replaces First-Come Model
Unlike earlier housing assistance programs, Dream For All uses a randomized voucher system. Eligible applicants submit information through approved lenders, then are entered into a lottery. Selected households receive a voucher that allows them to move forward with a home purchase.
CalHFA officials say the lottery model was adopted to improve fairness and avoid website crashes and long wait times seen in earlier rounds. Demand remains strong, especially in Los Angeles County, where home prices continue to climb.
Who Qualifies In Los Angeles County
To qualify, applicants must be first-time homebuyers, meaning they have not owned a home in the past three years. They must also be considered first-generation buyers. This generally means at least one borrower has never owned a home and their parents do not currently own a home in the United States.
Income limits vary by county. In Los Angeles County, the cap is roughly $168,000, though limits can change based on household size and location. Applicants must meet standard loan requirements, including minimum credit scores, and work with a CalHFA-approved lender.
Local Impact And Future Funding
Housing advocates say the Dream For All program is especially significant for communities like El Monte and South El Monte, where many households are rent-burdened but remain close to qualifying income levels.
The 2025–26 state budget allocated $300 million to expand the program statewide. Officials say the funding reflects a continued commitment to increasing access to homeownership while addressing long-standing equity gaps.
More information about eligibility and upcoming application windows is available through CalHFA at https://www.calhfa.ca.gov/dream/.
