California's shared-appreciation program could cover up to 20% of a home's price, capped at $150K, for eligible first-generation buyers seeking down payment help.
Instead of interest or monthly payments, the state housing agency recovers the original assistance plus the same share of any home appreciation later.
Eligibility required at least one first-generation borrower, at least one current California resident, county-based household income limits, and a homebuyer education course.
Demand consistently outpaced funding, with the state housing agency typically setting aside ~$150M-$200M yearly and choosing recipients through a randomized lottery window.
Some funding targeted qualified census tracts, and selected buyers still had to secure a first mortgage, find a home, and close on time.