Home › Compare programs
Your optionsProp 37 vs other programs
Prop 37 isn't California's only down payment help, and it isn't open yet. CalHFA already runs other programs with clear terms and different rules. Here's how they compare, so you don't wait for a loan that may not suit you.
Side by side
| Prop 37 | Dream For All | MyHome | |
|---|---|---|---|
| Help amount | Up to 17% of price | Up to 20%, max $150,000 | Up to 3% or 3.5% |
| Your cash down | At least 3% | Check CalHFA's rules | Depends on first loan |
| Monthly payment on the help | Expected | None, deferred | None, deferred |
| Repaid how | Not fully set | Original loan plus 15% or 20% of appreciation | When sold, refinanced or paid off |
| Which homes | New homes only | Per CalHFA rules | Per CalHFA rules |
| First-time buyers only? | Not in the text | Yes, plus first-generation rule | Yes |
| Status | Not open | Portal closed Mar 16, 2026 | Listed by CalHFA |
Dream For All
The Dream For All Shared Appreciation Loan offers up to 20 percent for a down payment or closing costs, capped at $150,000. It's for first-generation buyers: at least one borrower must be a first-generation homebuyer, and all must be first-time buyers.
Instead of monthly payments, you repay the loan when the home is sold, transferred or the first mortgage is paid off, plus 20 percent of the home's appreciation. Borrowers at or below 80 percent of area median income share 15 percent.
Dream For All runs in rounds. CalHFA's page says the application portal closed on March 16, 2026, and it released another round of vouchers in May 2026. Check its page for what comes next. Check its property rules with a lender, since they differ from Prop 37's new-home limit.
MyHome Assistance
MyHome is a deferred-payment junior loan for down payment or closing costs. It covers up to 3.5 percent of the price or appraised value with a CalHFA FHA loan, and up to 3 percent with a CalHFA Conventional loan.
It's much smaller than Prop 37, but there are no monthly payments on it. The Budget Center describes it as carrying 1 percent simple interest, deferred until sale, refinance or payoff. You must be a first-time buyer, the home must be your primary residence and you must meet CalHFA's income limits.
Low down payment loans
You don't always need a second loan. Low down payment mortgages let you buy with less cash, and these work on existing homes too.
- FHA loans. Insured by the federal government, with a minimum down payment as low as 3.5 percent for many borrowers, along with mortgage insurance.
- CalHFA first mortgages. FHA, VA, USDA and conventional options through approved lenders.
- VA loans. For eligible veterans and service members. See the VA's home loan pages.
The main trade-off is mortgage insurance, a monthly cost that protects the lender. With Prop 37, you'd instead pay interest on a second loan. Which costs less depends on a rate that isn't set yet. The CFPB has tools for comparing loans.
Which might fit you
We can't recommend a program for you, but these questions can help you sort them out. Your answers may also change as CalHFA publishes terms, so it's worth checking again once the rate and repayment rules are out. Keep in mind that assistance loans and first mortgages usually have their own income limits, and a lender can tell you which ones you meet today.
- Want an existing home? Prop 37 is out, so look at other programs.
- Are you a first-generation buyer? Dream For All may be worth following, if the shared appreciation trade makes sense to you.
- Need to keep monthly costs low? Deferred programs have no payment on the assistance, and Prop 37 probably will.
- Earn too much for other programs? Prop 37's income ceiling is high, so it may be your main option.
- Ready to buy soon? Don't wait for Prop 37 without talking to a lender about what's open now.
Comparison questions
Is Prop 37 the same as Dream For All?
No. Dream For All is a CalHFA shared appreciation loan for first-generation buyers, repaid at sale or payoff. Prop 37 is a new second-mortgage program for newly built homes, expected to have monthly payments.
Can I combine Prop 37 with other assistance?
That hasn't been decided. Your 3 percent can't come from a grant or borrowed money, which limits how other aid could be used. CalHFA's rules will answer this.
Should I wait for Prop 37 to buy a home?
That's your call, and we can't advise you. Loans may be a year or more away, and the terms are unknown. A lender or housing counselor can compare what's open now.
Get an email when Prop 37 loans open
Voters approved the measure, but CalHFA still has to write the rules, sell the bonds and sign up lenders. Leave your name and email and we'll tell you when applications open or when the terms are published. Nothing else.
Just your name and email. We never ask for income, phone or loan details. See our privacy policy.