In Caifornia, saving for a down payment is challenging. However, this program offers genuine relief for homebuyers. Last time, the funds were depleted in just 9 business days, indicating its popularity and effectiveness.
Last release, many would be homebuyers missed out on the opportunity and were left feeling... disillusioned. The process was very confusing. This time around, I've committed to helping as many people become homeowners as possible by leveraging this program.
Here are my tips for capitalizing on the Dream for All program this time around:
1. Work with a lender that is experienced in doing CalHFA loans- if they wait until the last minute to set up the portal with them or aren’t familiar with the reservation process you will miss out. Personally, I've partnered with Sierra Pacific Wholesale as they specialize in these type of transactions
2. Get your homebuyer education process done early: Last release there was a major bottleneck with people not being able to complete the homebuyer education on time. There are 2 separate education pieces. One of them you can be working on now.
3. Get the loan process started early. Have your file in queue with the experienced lender with your documentation turned in. That way you’re ready to go and there aren’t any delays.
4. A little bit o’ luck! Since the funds are most likely going to be gone quickly, there’s a luck element. There needs to be a house you want to make an offer available in that 9 day window (or however long funds last.)
Please share my information with someone you know that's been on the fence about becoming a homeowner or has been priced out . :)
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