New pre-application period open for AC Boost home down-payment assistance loans
Alameda County has announced a new round of lending through AC Boost, the down-payment assistance program funded by the Alameda County affordable housing bond Measure A1.
The program offers shared-appreciation loans of up to $210,000 to middle-income, first-time homebuyers who live in, work in or have been displaced from Alameda County. Middle income is defined as up to 120 percent of median income based on household size for Alameda County.
AC Boost shared-appreciation, down-payment assistance loans are interest free and have no monthly payment while the borrower occupies the home. Instead, the loan is repaid if the home is sold or transferred, the owner refinances without County approval or no longer wishes to occupy the home, or the 30-year term of the shared-appreciation loan comes to an end.
An application deadline of Aug. 30 applies, so act soon to learn more or to submit your pre-application at www.acboost.org or call (510) 500-8840. Applying is free, fast and simple.
To be notified when new pre-application periods open to qualify to participate in AC Boost, sign up at https://www.hellohousing.org/stay_connected/.
