California's $300 Million Down Payment Assistance Program Depleted in Record Time
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.