California’s ‘Dream for All’ Home Down Payment Program Ran Out of Money in 12 Days

‘It is incredible and inspiring to see that the launch of the California Dream for All program has already been so successful,’ said state Sen. Toni Atkins.

An 'open house' flag is displayed outside a single family home in Los Angeles on Sept. 22, 2022. Allison Dinner/Getty Images

Demand for California’s new down payment assistance program overwhelmed the system and depleted its $300 million budget in less than 12 days, with applications put on pause effective April 7, according to the housing finance agency.

The legislator responsible for proposing the program responded optimistically to the news.