Before applying for any CalHFA program especially the Dream For All Shared Appreciation Loan it’s important to know which category you fall into. These definitions matter because they determine what programs you qualify for and how much assistance you can receive.

To know for sure, you should understand that a first-time homebuyer is defined as someone who has not owned and occupied their home in the last three years, and who has not lived in a home owned by a spouse in the past three years. If any of these circumstances happened more than 3 years ago or you have never owned a home, you can apply for the benefits of CalHFA's first-time homebuyer programs. Exceptions may apply, so please talk to one of CalHFA's Preferred Loan Officers for more information.

To qualify for the Shared Appreciation Loan, at least one borrower must meet both the criteria below of the first-generation homebuyer definition:

A first-generation homebuyer is defined as a homebuyer who has not been on title, held an ownership interest or have been named on a mortgage to a home (on permanent foundation and owned land) in the United States in the last 7 years,

AND

To the best of the homebuyer’s knowledge whose parents (biological or adoptive) do not have any present ownership interest in a home in the United States or if deceased whose parents did not have any ownership interest at the time of death in a home in the United States,

OR

​An individual who has at any time been placed in foster care or institutional care (type of out of home residential care for large groups of children by non-related caregivers).

Understanding whether you’re a first-time or first-generation buyer is the first step toward unlocking the
Dream For All benefits. These definitions affect:

    ✔️ Which programs you qualify for
    ✔️ How much assistance you can receive
    ​✔️ Whether you’re eligible for the Shared Appreciation Loan

If you’re not sure which category you fall into, I can help you figure it out in just a few minutes. Schedule a call with me below so you’re ready when CalHFA reopens registration in early 2026.