California Dream for All Program expands homeownership assistance to first-generation homebuyers.

The bill establishes the California Dream for All Program to provide grants and shared-appreciation loans to first-generation homebuyers. It defines first-generation homebuyers as those whose parents have never owned a principal residence. The program aims to assist these buyers with income up to 80 percent of the area median income through forgivable deferred loans and those with higher incomes through shared-appreciation loans. The California Dream for All Fund will manage the financial resources for this initiative.

California Dream for All Program expands homeownership assistance to first-generation homebuyers.

The bill establishes the California Dream for All Program to provide grants and shared-appreciation loans to first-generation homebuyers. It defines first-generation homebuyers as those whose parents have never owned a principal residence. The program aims to assist these buyers with income up to 80 percent of the area median income through forgivable deferred loans and those with higher incomes through shared-appreciation loans. The California Dream for All Fund will manage the financial resources for this initiative.