Solano Real Estate Scene: Jim Porter
Article By: Jim Porter – February 27, 2026
The California Housing Finance Agency’s Dream for All lottery opened this week for an estimated 15% to 30% chance to get $150,000 from the state Housing Finance Agency and become partners on an equity share agreement.
The $150,000 does not have to be paid back for 30 years, and when you do pay them off, you will simply pay them the $150,000 plus a share of the equity in the home based on the appraised value.
The easiest way to explain this is by simply showing an example of what the numbers might look like.
A first-generation-qualified homebuyer wins a voucher in the lottery and then has 90 days to find a home. This buyer buys a home for $750,000, and the California Housing Finance Agency invests $150,000 into the home for up to a 20% down payment. The owner can sell the home at any time, and when they do, the $150,000 is due plus 20% of the appreciation accumulated.
Let’s assume the home is sold in 10 years for $1 million. The owner would need to pay CALHFA the $150,000 plus 20% of the $250,000 profit. CALHFA gets $200,000, and the first-generation homeowner gets $200,000 in profit plus the equity built from paying the $600,000 mortgage down over the 10 years.
If the home is never sold, a balloon payment is due in 30 years for the $150,000 plus 20% of the equity gained over the 30 years.
This is the best down payment assistance program that I have seen. It sounds complicated, but it is really quite simple. It’s like a loan with no payment or interest that will only cost the homeowner money if they make money.
Visit CALHFA Dream for All to get started or call a local CALHFA approved mortgage company today as the portal closes March 16.
Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
