Demand for California’s new downpayment assistance program overwhelmed the system and depleted its $300 million budget in less than 12 days, with applications put on pause effective April 7, according to the housing finance agency. An ‘open house’ flag is displayed outside a single family home in Los Angeles on Sept. 22, 2022. (Allison Dinner/Getty Images) The legislator responsible for proposing the program responded optimistically to the news.
“ It is incredible and inspiring to see that the launch of the California Dream for All program has already been so successful ,” Senate President Pro Tempore Toni Atkins (D-San Diego) said in a statement April 14. “The fact that it has helped more than 2,400 first-time homebuyers with their down payments in its first two weeks is terrific.
Designed to provide up to 20 percent of funding for low-income first-time […]
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