"California Launches Loan Program to Assist First-Time Home Buyers with Down Payments"

The California Housing Finance Agency is launching the "California Dream For All Shared Appreciation" loan program to help first-time home buyers with low and moderate incomes. The program will provide 20% of the home's cost to help with the down payment, and when the homeowner sells the house, the state gets a portion back to help the next first-time buyer. The state plans to provide $300 million in payments to help 2,300 first-time buyers.