"California Revives Dream for All Program, Offering Affordable Loans to First-Time Homebuyers"

California is relaunching its Dream for All program with $250 million in down payment assistance for first-time homebuyers, using a lottery system to ensure equitable distribution of loans. The program aims to reach a more diverse group of borrowers and will provide up to 20% of the purchase price or $150,000, whichever is lower, to successful applicants. With home sales slowing down and prices remaining high, the program seeks to alleviate the challenge of obtaining a down payment, with officials estimating 1,700 to 2,000 lottery winners receiving vouchers to use within 60 days.