Are you dreaming of owning your own home in Alameda County but struggling to make the down payment? Well, you’re in luck! Applications are now open for the final round of down-payment assistance funds through AC Boost, Alameda County’s homebuyer assistance program.
Here’s what you need to know:
What is AC Boost? AC Boost provides loans of up to $210,000 to help with down payments for individuals and families who live or work in Alameda County, or who have been displaced from their homes in the area. This program is designed to make homeownership more accessible for those who may not otherwise be able to afford it.
Who is Eligible? To qualify for AC Boost, applicants must meet the following criteria:
- Nobody in the household can have owned a home in the last three years.
- Household income must be less than 120% of the area median income, which is $124,250 for an individual or $177,500 for a family of four.
Priority for First Responders and Educators First responders and educators are prioritized in the lottery selection process, aimed at helping them live closer to their jobs and bolstering the local workforce.
How Does it Work? Interested individuals can submit pre-applications online until May 15. Selected applicants will then be required to attend a homebuyer education course. Once a contract is signed on a home, the funds will be reserved, and a complete application for final approval will be submitted.
Final Round of Funding This is the last chance to secure funding through AC Boost, as the program will be distributing its final batch of down payment funds this year. Don’t miss out on this opportunity to make your homeownership dreams a reality!
Removing Barriers to Homeownership AC Boost aims to remove barriers to homeownership access and wealth-building for groups historically marginalized in the housing market. By providing much-needed financial assistance, the program is helping to address longstanding disparities in homeownership.
How to Apply To confirm your eligibility and apply for AC Boost, visit their website and check out the eligibility guide. The program is funded by Measure A1, a $580 million bond approved by voters in 2016, and managed by the nonprofit organization Hello Housing.
Don’t let high home prices hold you back from achieving your homeownership goals. Take advantage of this opportunity and apply for AC Boost today!
