CalHFA Dream For All Refinance Calculator

How the CalHFA Dream For All refinance works

• This program refinances a current CalHFA first mortgage into a new Fannie Mae HFA Preferred™ limited cash-out first mortgage, for borrowers who have a current CalHFA Dream For All Shared Appreciation Loan.
• Your Dream For All loan is resubordinated one time and stays in place — it is not paid off at this refinance and is not added to the new loan amount.
• The Dream For All balance is repayable with a share of appreciation when you sell, transfer, or pay off the first mortgage. That appreciation share is not estimated here.
• Any non-CalHFA down payment assistance loans or grants that were layered with your Dream For All loan must be paid off in full at this refinance, so include the balance below so it is rolled into the payoff math.
• No new down payment assistance is available on a refinance.
• Temporary buydowns are not available on CalHFA refinance programs.

Your current loan & new refinance

Your county & income limit

CalHFA income limit for Los Angeles County: $214,000.00

Sales price limit: CalHFA sets no sales price limit.

Verify the income limit on CalHFA's official income limits sheet

Your refinance results

Your Dream For All loan is repayable with a share of appreciation when you sell, transfer, or pay off the first mortgage — not estimated here. It is not added to the new loan and is not paid off at this refinance.

Your first-mortgage payoff and any non-CalHFA down payment assistance or grant payoff are rolled into the new loan amount either way. Taxes and insurance are estimated at 1.25% and 0.25% of home value per year.

CalHFA Dream For All refinance at a glance

• The property must be a primary home (owner-occupied) only. The borrower(s) and all co-borrower(s) must live in the property — non-owner-occupied co-borrower(s) are not allowed.
• You must have a current CalHFA Dream For All Shared Appreciation Loan — this refinance requires it, along with its one-time resubordination.
• The Dream For All loan stays in place through the refinance: it is not paid off and its balance is not added to the new loan. It remains repayable with a share of appreciation when you sell, transfer, or pay off the first mortgage.
• The Dream For All Shared Appreciation Loan is in second lien position.
• Any non-CalHFA down payment assistance loans or grants layered with your Dream For All loan must be paid off in full at this refinance — only the Dream For All loan is resubordinated.
• Cash back at closing is limited to the greater of $2,000.00 or 1% of the new loan amount.
• Dream For All has its own separate income limits, lower than the standard CalHFA county limits shown above — Radlam will verify yours against CalHFA's Dream For All limits sheet.
• Minimum credit score 680 (660 if your income is at or below Fannie Mae's HomeReady 80% AMI low-income limit). No manual underwriting.
• Maximum debt-to-income ratio 45% (50% if your credit score is 700 or higher).
• Maximum LTV 97% (95% on High Balance loans over $832,750.00).
• CalHFA lender fees are capped at the greater of 3% of the loan amount or $3,000.00, plus a $250.00 funding fee and $85.00 tax service fee.
• Official program details: CalHFA Refinance Loan Programs Handbook (PDF)