Single Family Lending Program Bulletin

April 6, 2023 Program Bulletin #2023-03 To: CalHFA Approved Lenders

CalHFA to Pause the Dream For All Shared Appreciation Loan

CalHFA anticipates that all funds currently available for the Dream For All Shared Appreciation Loan could be fully committed as soon as April 10, 2023.

However, all loans must be rate locked no later than 3 p.m. PST on April 12, 2023, or when the available funds become fully committed, whichever is sooner. Loan files that do not have rate locks by that time will not be funded. Loan files attached to floating reservations are not committed and will be cancelled the day after the program pauses.

Reminder - loans for new construction properties need to be rate locked by 3 p.m. PST on April 12, 2023. Rate locks are valid for 60 days and extensions are available. For details on extensions, please go to Rates & Reservations section of our website. Loans with properties that will not be completed by the rate lock/extension expiration date may need to cancel.

The $300 million in Dream For All funding currently available to CalHFA is expected to help more than 2300 low- and moderate-income Californians purchase their first homes. CalHFA is extremely proud of this successful program and pleased to make such a profound difference in the lives of so many Californians who have achieved the dream of homeownership.

A final important reminder - the funding source for the Dream For All Shared Appreciation Loan Program is completely separate from all other CalHFA programs. As such, CalHFA's other single family lending programs are not affected by this program bulletin and will continue to be available.

For questions about this bulletin, contact CalHFA Single Family Lending Division by phone 916.326.8033 or by email at SFLending@calhfa.ca.gov. Plus you can always visit CalHFA's website at: www.calhfa.ca.gov or Single Family Lending directly at www.calhfa.ca.gov/homeownership.

CalHFA thanks you for your business and we look forward to continuing to support your affordable housing loan needs.

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