By Tanu Henry | California Black Media
Tiffany Duvernay-Smith went from knowing the harsh realities of homelessness to owning her first home – made possible by the California Housing Finance Agency’s (CalHFA) Dream For All program, which is reopening applications this month with up to $150,000 in down payment assistance for first-generation buyers.
“I feel like I was the least likely person,” says Duvernay-Smith, who is Coordinator for the Los Angeles Homeless Services Authority’s Lived Experience Board, a published journalist, artist and outspoken advocate for unhoused people, people living with disabilities and domestic violence survivors.
“I come from homelessness, and I didn’t know my story would change from homeless to homeowner. But if there’s a house with your name on it, nothing can stop you.”
Duvernay-Smith’s journey exemplifies the transformative potential of Dream For All, a program designed to help first-generation homebuyers across California. This year, applications will open on February 24, and close on March 16. The program uses a random selection process to ensure equitable access, and Gov. Gavin Newsom’s office has directed that a minimum of 10% of funds go to applicants in Qualified Census Tracts — communities that historically faced discriminatory or unfair barriers to home ownership.
For eligible participants, the program provides up to 20% of the home’s purchase price or appraised value in down payment assistance – capped at $150,000.
The shared appreciation structure means that when a home is sold, the original loan plus a portion of the home’s appreciation is repaid, allowing CalHFA to reinvest the funds to help more Californians achieve homeownership.
CalHFA expects to make $150 million to $200 million available in2026, potentially helping 1,000 to 1,500 families, with a total of approximately 2,000 households supported through the 2025–26 budget allocation of $300 million.
The program is particularly impactful for Black Californians, who continue to face the highest rates of homelessness across the state and significant barriers to homeownership due to decades of discriminatory housing policies, redlining, and wealth inequities.
“Black Californians continue to face some of the widest homeownership gaps in the state,” says Regina Brown Wilson, Executive Director of California Black Media. “Programs like Dream For All are critical because they directly address the generational inequities that have long shut our community out of the housing market.”
Wilson was speaking during an online news briefing held Jan. 30 that featured Eric Johnson, information officer in CalHFA’s Marketing and Communications Division and Shonta Clark, senior loan consultant and CalHFA program educator, home counselor and broker, Southern California.
“There are a lot of people in California with steady jobs, good incomes, and strong credit scores – but who haven’t been able to save the five or even six figures needed for a down payment on a home,” says Johnson. “That’s exactly what Dream For All is designed to address. The Legislature has dedicated hundreds of millions of dollars to this program to help as many people as possible, and so far, we’ve helped about 3000 Californians buy their first home.”
Eligibility requirements focus on first-generation homebuyers — those who have not owned a home in the past seven years and whose parents also do not currently own a home. CalHFA defines a “first-time homebuyer” as someone who has not owned and lived in their own home in the past three years, Foster youth are automatically considered first-generation homebuyers, reflecting the program’s commitment to reaching Californians who have faced systemic barriers, CalHFA says.
Income limits vary by county, from $148,000 in rural areas like Del Norte County to $309,000 in more expensive cities in counties like Santa Clara in Silicon Valley, ensuring support targets those who need it most.
Applicants must work with CalHFA-approved lenders and provide standard documentation such as government-issued IDs and parental information.
Johnson advises interested homebuyers to begin preparing early: get pre-approved, complete necessary credit checks and gather required documents before the application window opens on Feb. 24.
For Duvernay-Smith, preparation was less straightforward. After initially ignoring early program notices, she applied just days before the deadline. Random selection worked in her favor, and after months of credit improvement, paperwork, and persistence, Tiffany and her husband became homeowners in August 2025.
“There is a lot of fear, and there are a lot of doubts to overcome,” Duvernay-Smith says. “But just take a step. It’s possible.”
Experts like Clark, who works with CalHFA to educate potential homebuyers, emphasize the importance of community support. Many prospective Black homeowners are unaware of the program or the resources available to help them prepare, she says.
“With our community, we sometimes have negative energy around us that will say, ‘Oh, that’s not a real program.’ That’s not true. I’ve done these types of loans in 30 days from start to finish,” Clark says. “We have to get the word out so people can take advantage of this opportunity to build wealth.”
The positive impacts of the Dream For All program are far reaching for the state economy, say advocates. Studies suggest that the shared appreciation loans can save an average of$1,200 per month on mortgage payments, freeing up income for other essentials and creating a pathway to long-term financial stability.
“With the Dream for All program, I closed a number of sales last year and I’m hoping to do some this year for my community and outside my community.” says Clark. “We’re everywhere in the state of California.”
Johnson encourages applicants to remain optimistic.
“Take the first step. Despite high interest rates and high prices, it is still possible to buy your first home in California. Believe in yourself and know that homeownership is meant for you,” says Johnson.
