{"id":168676,"date":"2026-02-08T00:55:11","date_gmt":"2026-02-08T00:55:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/168676\/"},"modified":"2026-02-08T00:55:11","modified_gmt":"2026-02-08T00:55:11","slug":"california-dream-for-all-helping-black-residents-own-homes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/168676\/","title":{"rendered":"California Dream For All: Helping black residents own homes"},"content":{"rendered":"

Overview: The Black homeownership rate in California is the lowest among other ethnic groups, with only 36.6% of Black residents owning homes in 2023. The California Housing Finance Agency is addressing this issue through the California Dream For All Shared Appreciation Loan, a down payment assistance program for first-time homebuyers that provides up to 20% for down payment or closing costs, not exceeding $150,000. The program\u2019s application opens on February 24, 2026, and closes on March 16, 2026. The agency has also launched a Building Black Wealth campaign to increase Black homeownership in California.<\/p>\n

Thank you for reading this post, don’t forget to subscribe!<\/p>\n

Breanna Reeves<\/p>\n

In 2023, the Black homeownership rate was 36.6%, or 27.9 points below the rate for white households, and the lowest among other ethnic groups.<\/p>\n

According to the Public Policy Institute of California<\/a>, factors such as large pay gaps, cost burdens of renting and lack of information about the home-buying process contribute to the low Black homeownership rate, in addition to a longstanding history of racially discriminatory practices.\u00a0<\/p>\n

One way California is addressing the low rates of homeownership among Black residents and low-income residents is through the California Housing Finance Agency\u2019s California Dream For All <\/a>\u00a0Shared Appreciation Loan. The Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers, and helps support eligible buyers with up to 20% for down payment or closing costs, not exceeding $150,000.<\/p>\n

The application to apply for Dream For All loan voucher opens Feb. 24, 2026 and closes Mar. 16, 2026. Interested homebuyers must register for a voucher, and will be entered into a randomized drawing in which select registrants will receive the voucher.<\/p>\n

\u201cThere\u2019s a lot of people in California who\u2019ve got steady jobs, good income, good credit scores, but haven\u2019t been able to save up the five, sometimes six figures you need to make a down payment on a house. That\u2019s what Dream For All is all about,\u201d said California Housing Finance Agency Information Officer Eric Johnson during a California Black Media briefing on the program.<\/p>\n

Californians who meet eligibility requirements for the program can begin prepping for the application now by first speaking with a California Housing Finance Agency approved lender who is offering the Dream For All program. Then, eligible homebuyers should begin working with their loan officer to determine what is needed to secure a California Dream For All (DFA) Lender Pre-Approval Letter. This letter is required in order to register for a DFA voucher.<\/p>\n

\u201cThis is important because within our community, we\u2019re seeing more homeless [that] look like us because we\u2019re being kicked out of homes, rental properties \u2014 we\u2019re not aware that we\u2019re able to buy,\u201d explained Lender Shonta Clark of New American Funding.\u00a0<\/p>\n

Clark shared during the briefing that she often runs into older adults who have never owned a home, but who have children who want to buy homes, but don\u2019t know how to get started. She reiterated that this program is for them.<\/p>\n

\u201cHow do we make that dream come true for us?\u201d Clark said. She explained that other racial\/ethnic communities take advantage of this program, but oftentimes Black residents do not. \u201cBut for some reason we as African Americans aren\u2019t taking advantage of it, aren\u2019t stepping up. So, I\u2019m hoping this year that some people will get the word out.\u201d<\/p>\n

Mindful of the gaps in homeownership, California Housing Finance Agency launched a Building Black Wealth<\/a> campaign in an effort to increase Black homeownership in California. The campaign provides educational materials, and connections to resources such as free housing counseling and down payment assistance to help close the gap.<\/p>\n

Tiffany DuVernay Smith, a homeowner and beneficiary of the Dream for All loan program shared her experience with the program during the media briefing.\u00a0<\/p>\n

\u201cI\u2019m just here to uplift the possibility that if it can happen for me, it can happen for anyone,\u201d said DuVernay Smith. \u201cI feel like I\u2019m the least likely person because I come from homelessness, and I didn\u2019t know, I didn\u2019t know my story would change from homeless to a home owner.\u201d<\/p>\n

Since the program launched in 2021, more than 2,500 California homebuyers were recipients of the Dream For All Program. Of the recipients, 7% identified as Black\/African American. Among the counties where beneficiaries reside, 262 are Riverside County and 218 are in San Bernardino.<\/p>\n

Eligible and interested California residents can begin preparing for the application opening by visiting the California Housing Finance Agency Dream for All website and following the steps to get started with gathering important documentation such as credit score checks, pre-approval letters and required identification.\u00a0<\/p>\n

\u201cBelieve in God first,\u201d Clark said as she encouraged residents to take the step in becoming first-time homeowners. \u201cEvery loan I\u2019ve ever closed, I\u2019ve seen God show up in miraculous ways.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Overview: The Black homeownership rate in California is the lowest among other ethnic groups, with only 36.6% of…\n","protected":false},"author":2,"featured_media":168677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[41725,81030,7,9,81031,8,81032,81033],"class_list":["post-168676","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-black-residents","tag-breanna-reeves","tag-california","tag-california-headlines","tag-california-housing-finance-agency","tag-california-news","tag-eric-johnson","tag-shonta-clark"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/168676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=168676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/168676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/168677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=168676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=168676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=168676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}