First-time home buyers can apply for housing down payment assistance

City of Berkeley sent this bulletin at 04/23/2024 05:00 PM PDT

April 23, 2024

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First-time home buyers can apply for housing down payment assistance

Apply to two programs for no-interest, shared appreciation loans to help you buy a home in California and Alameda County. Deadlines to apply are April 29 and May 15.

Prospective first-time home buyers can apply for two separate no-interest down payment loan programs, the first of which has a statewide April 29 deadline for up to $150,000.

Those first-time buyers who live, work in, or have been displaced from Alameda County can also apply for a down payment loan of up to $210,000, the county deadline for which is May 15.

If a member of the household is an EMT, firefighter, police officer, or works in schools or daycare facilities in Alameda County, you have improved odds to get a loan from the county program.

See if you meet the income requirements:

The state program requires that at least one borrower be a first-generation homebuyer, and the household annual income limit for Alameda County is $234,000.
The county program requires that applicants have no more than $300,000 in total assets and make no more than 120% of area median income, such as $142,000 for a family of two and $177,500 for a family of four.

Both loans are zero-interest and require no payment during the loan term or until the house is sold, at which time owners will repay the full loan amount along with a share of the increase in home value.

Apply to California Dream for All by April 29

The state program – known as California Dream for All – requires that applicants talk to an approved lender in order to get a pre-approval letter and register for a voucher by 5 pm on April 29.

First, see if your household meets all requirements:

First-generation homebuyer: at least one borrower must not have been on a property title in last seven years and borrower’s parents must not presently be on a title
First-time homebuyers: all borrowers have had no previous property ownership within the last three years
Income limit: must meet CalHFA Income Limits for the county you are purchasing in (up to $234,000 in Alameda County)

Then reach out to an approved lender to request a pre-approval letter. Lenders in Berkeley include:

Crosscountry Mortgage
- 1385 Shattuck Avenue, Suite B | (925) 395-3693
- 1647 Hopkins Street, Suite B | (510) 367-5562
- 2987 College Ave | (510) 254-4697
Guaranteed Rate Affinity
- 1400 Shattuck Avenue, Suite 1 | (925) 392-3419
- 1495 Shattuck Avenue | (925) 254-1419
Patelco Credit Union
- 2033 Kala Bagai Way | (510) 649-6012

Once you have a pre-approval letter, apply for a Dream for All voucher online by April 29.

If eligible, you will be entered in a random lottery for a loan of up to 20% for down payment or closing costs, not to exceed $150,000.

Watch a video for more details about applying.

Apply to Alameda County Boost by May 15

You can apply to the county program – known as AC Boost – entirely online without reaching out to a lender.

First, see if your household meets all requirements:

Residency: you must live in, work in, or have been displaced from Alameda County

Displaced Household includes at least one adult who, in the last ten years, moved out of the county due to foreclosure or rising housing costs

First Time Homebuyer: all the adults in the household are purchasing the property as a primary residence and had no previous property ownership within the last three years
Income Limits: your household must earn no more than 120% of the Area Median Income
Household Asset Limit: of no more than $300,000 at the time of application
First responders and Educators will receive preferences

Then complete your online pre-application by May 15, 2024.

Eligible pre-applications will be entered into a lottery and will be sent an email with a lottery number.

Attend an optional online roundtable to learn more about application and eligibility:

AC Boost Virtual Roundtables
May 1, 2024, 6:00 – 7:30 pm
Register

Your next steps, if selected

If your lottery number is selected, you will:

attend a mandatory workshop
submit a full application within 28 days of the workshop.

Eligible applicants will receive conditional approval and will have an initial 120 days to shop for a home.

No payments will be due during the term of the loan, making your mortgage payment affordable. At the end of the 30-year loan term (or earlier, if you choose to sell or move out), you will repay the full loan, plus an additional amount based on the increase in property value.

First-time homebuyers can apply for both programs to receive down payment assistance:

by April 29 to California Dream for All and up to $150,000
by May 15 to Alameda County Boost and up to $210,000.

For questions about California Dream for All, call (877) 922-5432 and for Alameda County Boost, call (510) 500-8840.

Celebrate, learn about the Bay at Berkeley festival

Celebrate and learn about the Bay and its wildlife out on the Berkeley waterfront as part of a family-focused festival.

Challenge your preconceptions about pigeons by holding one and learning from Palomacy Pigeon, a pigeon rescue organization. Observe the Bay’s fish up close in a 1,500-gallon tank hosted by East Bay Regional Parks District staff. Or go for a free boat ride on a sailboat with Cal Sailing Club or on a Chinese-style dragon boat with DragonMax.

These are just a few of the activities you can take part in at exhibits hosted by more than 30 environmental nonprofits, wildlife conservation organizations, and city staff.

We’ll also have live music, youth circus performers, and a variety of food vendors for you to enjoy.

Come join us on April 27 at Shorebird Park.

Read more at berkeleyca.gov.

Adopt your next pet from the City’s animal shelter

Adopt your next dog, cat, guinea pig, bunny, and more from the City of Berkeley’s animal shelter, whose staff and volunteers nurture animals for new homes.

At Berkeley Animal Care Services, you can meet delightful dogs like Maia the husky, a curious explorer with a nose for adventure, or wirehaired terrier Misty, a gentle affection pup, who loves lap time. We also have fabulous felines like Mimi and even a white rabbit named Puff.

Each of our pets has a unique personality waiting to be discovered. Whether you're seeking a hiking buddy, a cuddle companion, or a mischievous sidekick, we've got a match for you. Our dedicated team ensures each animal receives love, enrichment, and veterinary care.

To make it easier to take home your newest family member, we’ve waived pet adoption fees through April.

Read more at berkeleyca.gov.

Register now for summer overnight camps for families, youth, and adults

Retreat to the Sierra Nevada mountains with the City of Berkeley this summer. We offer overnight camps tailored for youth, families, and those over 50-years-old.

You can swim in a clear lake or river, hike in the forest, enjoy meals cooked for you, and let your children explore the wonders of the High Sierra with our knowledgeable camp counselors.

The range of camp options includes teen backpacking trips and a Counselor-in-Training program to in-residence programs for artists or scientists.

Whether it’s Echo Lake Camp (near South Lake Tahoe) or Tuolumne Camp (near Yosemite) you choose, you'll become part of cherished Berkeley traditions alongside families and friends – and have the opportunity to create new ones.

Registration is open now, and Berkeley residents can apply for scholarships covering 50% to 100% of the costs. Visit our online registration portal for detailed information about Echo Lake Camp and Berkeley Tuolumne Camp sessions, prices, and to secure your spot.

Read more at berkeleyca.gov.