California's $300 Million Down Payment Assistance Program Depleted in Record Time
TL;DR Summary
The California Housing Finance Agency's loan assistance program, "Dream for All," which set aside $300 million to help first-time homebuyers with their down payment, has been paused after all the funds were allocated in just 11 days. The state's housing market has seen a quadruple increase in home values since 2000, making it difficult for potential buyers to afford a home. The California Legislature is currently working on next year's budget, which officials hope will provide more funding for the loan assistance program.
- California Housing Finance Agency down payment assistance program paused after all of its $300 million in funds were used up KABC-TV
- 'Unprecedented' demand: $300 million set aside for home loan assistance program gone in 11 days KCRA 3
- CA first-time homebuyer loans: Who got down payment money? CalMatters
- CA down payment program paused after all $300 million of its funds were allocated in just 11 days ABC7
- 'Unprecedented' demand: $300 million set aside for home loan assistance program gone in 11 days KCRA Sacramento
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