A Step-by-Step Guide to the Application Process

Applying for the California Dream For All Shared Appreciation Loan is a straightforward process that involves working with a CalHFA-approved lender, completing a homebuyer education course, and registering for a loan voucher. Follow these steps to apply for the Dream For All loan:

Step 1: Get Pre-Approved with a CalHFA-Approved Lender

Start by contacting a CalHFA-approved lender, such as Tennant Lending, to get pre-approved for the Dream For All loan. Your lender will assess your financial situation, including your income, credit score, and debt-to-income ratio, to determine your eligibility and the loan amount you qualify for.

Step 2: Register for the Required Homebuyer Education Course

All borrowers applying for the Dream For All loan must complete a mandatory homebuyer education course. This course covers essential topics such as budgeting, credit, and the homebuying process. Register for the course through the CalHFA website and complete it before moving on to the next step.

Step 3: Register for the Loan Voucher Drawing

In April, CalHFA will open registration for a randomized drawing to receive a Dream For All loan voucher. To participate in the drawing, you must have a pre-approval letter from a CalHFA-approved lender and have completed the homebuyer education course. The drawing is not first-come, first-served, so all eligible applicants have an equal chance of receiving a voucher.

Step 4: Gather Required Documentation

Once you have received a loan voucher, gather the necessary documentation to complete your loan application. This may include:

  1. Pre-approval letter from your CalHFA-approved lender
  2. Proof of income and employment
  3. Tax returns and W-2s
  4. Bank statements and asset documentation
  5. Identification documents (e.g., driver's license, passport)

Your lender will provide you with a complete list of required documents and guide you through the final stages of the loan application process.

Tennant Lending: Your Partner in Homeownership

At Tennant Lending, we are dedicated to helping first-time and first-generation homebuyers in Northern California achieve their dream of homeownership. Our experienced mortgage professionals are well-versed in the California Dream For All Shared Appreciation Loan program and are ready to guide you through the application process.

As a CalHFA-approved lender, we can help you get pre-approved for the Dream For All loan, assist you with the homebuyer education course registration, and ensure that you have all the necessary documentation to complete your loan application.

Contact Tennant Lending today to take the first step toward applying for the California Dream For All Shared Appreciation Loan and unlocking the door to your new home.

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