Borrower Eligibility Requirements
Thursday, October 23, 2025
Are You a First-Time or First-Generation Homebuyer?
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.
What Counts as a First-Time Homebuyer?
You’re considered a first-time homebuyer if:
- You have not owned and lived in a home in the past three years, and
- You haven’t lived in a home owned by your spouse in the past three years.
Examples:
- If you sold your home four years ago — congratulations, you’re a first-time homebuyer again!
- If you’ve been renting for the last few years and never owned a home, you qualify too.
What Is a First-Generation Homebuyer?
This definition applies only to the California Dream For All Shared Appreciation Loan, which is designed to help families who have never had the chance to build generational wealth through homeownership.
You’re a first-generation homebuyer if at least one borrower meets these conditions:
1. You have not owned or been on title to a home in the U.S. in the past 7 years, and
2. One of the following applies:
✔️Your parents do not currently own a home in the U.S.
✔️If your parents are deceased, they did not own a home at the time of their death, or
✔️You were placed in foster care or institutional care at any point in your life.
This program was designed to help first-generation buyers start building wealth through homeownership — even if your family never had that opportunity before.
💬 Why It Matters
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
🚀 Ready to See Where You Fit?
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.
This content is for educational purposes only and is not a commitment to lend. Program terms, income limits, and eligibility requirements for CalHFA and Dream For All are determined by CalHFA and subject to change. John King (NMLS #453426) is a CalHFA Preferred Loan Officer with Summit Funding, Inc. (NMLS #3199), a CalHFA-preferred lender. CalHFA does not lend directly to consumers.
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John King (NMLS #453426) is a CalHFA preferred loan officer, authorized to offer the California Dream for All program through Summit Funding, Inc., NMLS #3199. The content on this site is for general educational and informational purposes only. California Dream for All is a state program, and all information—including eligibility, terms, and availability—is subject to change without notice by CalHFA or the State of California. This independent site is operated by John King and is not affiliated with, endorsed by, or a branch of CalHFA or the State of California. Any offers, claims, or rate quotes are those of Summit Funding, Inc. and John King and are not guaranteed.