A straight answer
I got a California Dream For All voucher. What do I do next?
The direct answer
Follow the instructions CalHFA emails with your voucher, take the free Dream For All education course, and have a CalHFA-approved lender review your file before you make an offer. If you hold a voucher, text or call me about using it. I'm Zach von der Linden (NMLS 1652805), a mortgage broker with West Capital Lending, based in San Clemente.
Through West Capital Lending, I can help you use a Dream For All voucher with a CalHFA-approved lender. CalHFA sets Dream For All eligibility and funding, and the voucher and the loan each have their own requirements, so I can't promise approval. I can tell you what your file needs.
Zach von der Linden, mortgage broker and Branch Manager, West Capital Lending · NMLS 1652805
Wholesale pricing · California, Utah, Oregon and Arizona
5.0 across 66 reviews on Experience.com (read on 2026-09-24) · Text reaches Zach directly · Last updated 2026-10-15
No credit pull happens from a text or a call. Texts and calls go to Zach's cell.
What happens after you text me?
Texts go straight to my cell, and I answer them myself when I'm free. I'll ask for the few details that actually matter, tell you whether the structure looks worth pursuing, and explain the next step. If I don't think the loan fits, I'll tell you that too.
A text or phone conversation does not pull your credit.
What is the Dream For All Shared Appreciation Loan?
CalHFA describes it as a down payment and/or closing cost assistance program for first-generation homebuyers, used with the Dream For All Conventional first mortgage. It is a loan, not a grant: when the home is sold, transferred or the first mortgage is paid in full, you repay the original down payment loan plus a share of the appreciation in the home's value.
CalHFA lists the assistance as up to 20% for down payment or closing costs, not to exceed $150,000. In CalHFA examples, a 20% loan means repaying the original amount plus 20% of any appreciation. For a borrower at or below 80% of area median income, as shown by the HomeReady lookup tool, the appreciation share is reduced, so a 20% loan means repaying the original amount plus 15% of any appreciation.
Who is eligible?
CalHFA's published eligibility: one borrower must be a first-generation homebuyer, one borrower must be a current California resident, all borrowers must be first-time homebuyers, and combined household income must meet CalHFA's Dream For All income limits for the county where you buy.
CalHFA defines a first-generation homebuyer as someone who has not been on title, held an ownership interest or been named on a mortgage to a home in the United States in the last 7 years, and who, as far as they know, has parents (biological or adoptive) with no present ownership interest in a US home (or, if deceased, none at the time of death), or who has at any time been placed in foster care or institutional care. A first-time homebuyer has not owned and occupied a home in the last three years and has not lived in a home owned by a spouse in that time.
CalHFA publishes the Dream For All income limits by county. Check your county there; I don't repeat the figures here.
Is the application period still open?
Per CalHFA, the 2026 application period is closed: the portal closed March 16, 2026, and no new applications can be submitted. Per CalHFA, the latest round of vouchers was released 05/20/2026, and applicants should log into the Dream For All portal to check their status. Vouchers are awarded by randomized drawing, not first come, first served. Check CalHFA's Dream For All page for current availability.
Dream For All is a separate program from Proposition 37, a measure on the November 3, 2026 California ballot that would create a different CalHFA down payment loan for newly built homes if voters approve it. What buyers ask about Prop 37 covers what is known so far, without taking a position on the vote.
What do I do next, based on my status?
Voucher Issued: CalHFA emails instructions and next steps with the voucher. Follow them, and bring them to the lender you work with.
Waitlist: keep checking the voucher portal and your email. If a voucher becomes available, your status changes to Voucher Issued and CalHFA emails you.
Not Selected: CalHFA says you can still work with a CalHFA Approved Lender and explore its other down payment assistance, such as MyHome and CalPLUS with ZIP.
Do I have to use a CalHFA-approved lender?
Yes. CalHFA says it does not lend money directly to consumers; it works through approved lenders to qualify buyers and make all of its mortgage loans, and rates vary by your circumstances and the lender. Through West Capital Lending, I can help you use a Dream For All voucher with a CalHFA-approved lender. If you hold a voucher, text or call me about using it.
What education and documents does CalHFA ask for?
CalHFA lists a free, 1-hour online California Dream For All education course on shared appreciation (calhfadreamforall.com). It also requires homebuyer education and counseling for first-time homebuyers using a CalHFA program; only one occupying first-time borrower per loan has to take it.
The documents CalHFA lists are a Dream For All Lender Pre-Approval Letter, government ID, foster care documentation if it applies, and information about both parents of the first-generation borrower.
Questions people ask next
Can I apply now if I did not enter the 2026 drawing?
No. Per CalHFA, the 2026 application period is closed; the portal closed March 16, 2026, and no new applications can be submitted. Check CalHFA's Dream For All page for current availability.
Is Dream For All a grant?
No. It is a shared appreciation loan. When the home is sold, transferred or the first mortgage is paid in full, you repay the original down payment loan plus a share of any appreciation, as CalHFA describes on its program page.
Do I have to be a first-time buyer?
Yes. CalHFA says all borrowers must be first-time homebuyers, at least one must be a first-generation homebuyer and one must be a current California resident, and household income must meet CalHFA's limits for the county.
Are vouchers first come, first served?
No. CalHFA awards vouchers by randomized drawing.
Can you help me use my Dream For All voucher?
Through West Capital Lending, I can help you use a Dream For All voucher with a CalHFA-approved lender. CalHFA sets eligibility and funding, and the voucher and the loan each have their own requirements, so no lender can promise approval.
What clients say
Zach was so easy to work with. He made a stressful situation into a very positive experience for us and did push us one way or another. He listened to what we hoped we could accomplish and made it happen.
Word for word from Experience.com. Read all reviews.
Sources and checked dates
Sources: Zach von der Linden, confirmed 2026-10-07 2:18 PM PT; wording by the CoS, 3:05 PM PT (checked 2026-10-07) · CalHFA, California Dream For All Shared Appreciation Loan (checked 2026-10-07) · CalHFA, Borrower eligibility definitions (checked 2026-10-07) · CalHFA, California Dream For All income limits (checked 2026-10-07).
Show each claim on this page, what it depends on, and the date it was checked (4)
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| Through West Capital Lending, I can help you use a Dream For All voucher with a CalHFA-approved lender. | Zach von der Linden, confirmed 2026-10-07 2:18 PM PT; wording by the CoS, 3:05 PM PT | 2026-10-07 |
| CalHFA's Dream For All page: the Dream For All Shared Appreciation Loan is a down payment and/or closing cost assistance program for first-generation homebuyers, used with the Dream For All Conventional first mortgage; when the home is sold, transferred or the first mortgage is paid in full, the homebuyer repays the original down payment loan plus a share of the appreciation in the home's value. Program highlight: up to 20% for down payment or closing costs, not to exceed $150,000. CalHFA's examples: a 20% loan means repaying the original amount plus 20% of any appreciation; for a borrower at or below 80% of area median income (per the HomeReady lookup tool) the appreciation share is reduced, so a 20% loan means repaying the original amount plus 15% of any appreciation. Vouchers are awarded by randomized drawing, not first come, first served. Eligibility: one borrower must be a first-generation homebuyer, one borrower must be a current California resident, all borrowers must be first-time homebuyers, and combined household income must meet CalHFA's Dream For All income limits for the county. A program update dated 05/20/2026 says the next round of DFA vouchers has been released and applicants should log into the DFA portal to check status; the application period is closed, the portal closed March 16, 2026 and no new applications can be submitted. Next steps: Not Selected, work with a CalHFA Approved Lender and explore other CalHFA down payment assistance such as MyHome and CalPLUS with ZIP; Waitlist, check the voucher portal and email, and if a voucher becomes available the status changes to Voucher Issued and CalHFA emails the applicant; Voucher Issued, CalHFA emails instructions and next steps with the voucher. The 1-hour Dream For All education course on shared appreciation is free and online (calhfadreamforall.com). Homebuyer education and counseling is required for first-time homebuyers using a CalHFA program; only one occupying first-time borrower per loan has to take it. Documents listed: a Dream For All Lender Pre-Approval Letter, government ID, foster care documentation if applicable, and information about both parents of the first-generation borrower. CalHFA does not lend money directly to consumers; it works through approved lenders to qualify consumers and make all its mortgage loans, and rates vary by circumstances and lender. | CalHFA, California Dream For All Shared Appreciation Loan | 2026-10-07 |
| CalHFA borrower definitions: a first-generation homebuyer (Dream For All only) is a borrower who has not been on title, held an ownership interest or been named on a mortgage to a home in the United States in the last 7 years, and who, as far as they know, has parents (biological or adoptive) with no present ownership interest in a US home (or, if deceased, none at the time of death), or who has at any time been placed in foster care or institutional care. A first-time homebuyer has not owned and occupied a home in the last three years and has not lived in a home owned by a spouse in the past three years. | CalHFA, Borrower eligibility definitions | 2026-10-07 |
| CalHFA publishes California Dream For All income limits by county (2026 limits, effective 06.30.2026). | CalHFA, California Dream For All income limits | 2026-10-07 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last updated 2026-10-15.
Verify him: NMLS Consumer Access, ID 1652805 · 66 reviews on Experience.com.
Sources for product claims are listed on this page, with the date each was checked.