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The final application period is now open until May 15 for Alameda County Boost Down Payment Assistance Program loans to assist first-time homebuyers in the County.
To be eligible for AC Boost down payment assistance loans—funded through the Alameda County Measure A1 Housing Bond program—buyers must currently live or work in Alameda County or have been displaced from a home in Alameda County in the last 10 years. A preference is available for First Responders and Educators, including licensed childcare providers.
Loan limits are $210,000 for households that earn less than 100 percent of Area Median Income (AMI) and $160,000 for households that earn between 100 percent and 120 percent of AMI based on household size in Alameda County. Loans are shared-appreciation loans, with no interest and no monthly payments. Eligible buyers must be qualified for a first mortgage from a participating lender and must not have owned a principal residence in the past three years.
Interested homebuyers are encouraged to submit a pre-application at www.ACBoost.org by May 15 to enter a lottery. Additional program information is also available at www.ACBoost.org.
Following the lottery, applicants will be invited to attend a mandatory program in rank order. After the workshop, attendees can submit a full application, along with the required supporting documentation, for review against the program’s eligibility requirements. Once approved, applicants can then start looking for a home. |
