By Alejandro Lazo | California Political Review
Despite a projected $25 billion budget deficit, the state of California does. At least for now.
The California Housing Finance Agency is poised to launch a scaled-down version of its new shared equity home loan program on March 27. With the Dream for All program, the state plans to provide $300 million worth of down payments for an estimated 2,300 first-time homebuyers.
The complicated program involves the state paying some or all of the upfront costs for buying a home — the down payment, for instance — in exchange for a share in the home’s value when it is sold, refinanced or transferred.
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