Borrow up to $210,000 to buy a home in Alameda County
Berkeley, California (Monday, August 16, 2021) - Prospective first time homebuyers who live in, work in, or have been displaced from Alameda County should apply before August 30 to be entered in a random lottery to receive up to $210,000 in down payment assistance.
This county-funded program provides loans intended to bring home-ownership within reach of households who would otherwise not be able to afford a home.
Are you a First Responder or an Educator? You may have double the chance to access the funds in this Alameda County program, AC Boost.
Apply before August 30
First-time homebuyers should submit a pre-application before August 30, 2021 to enter a random lottery. The Pre-Application process checks your eligibility for an AC Boost and enters eligible applications into a lottery. Start by:
- Completing your pre-application at ACBoost.org. Paper pre-applications are available upon request
- If you meet eligibility requirements, you'll get a lottery number by email
Additional application periods may open in the future, until all funds are exhausted.
To qualify for an AC boost loan
You must meet the following requirements to qualify for this program:
- Alameda County Residency, you must live or work in Alameda County
- Displaced Household is someone in the last ten years who has moved out of the county due to foreclosure, rising housing costs
- First Time Homebuyer, who is purchasing, will reside in, and has had no previous property ownership within the last three years
- Income Limits, you must be at or below 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
Your next steps, if selected
If your lottery number is selected, you will be invited to attend a mandatory workshop. Within 28 days of the workshop, you will need to submit a full application. Eligible applicants will receive conditional approval and will have an initial 120 days shop for a home. No payments will be due during the term of the loan, making your mortgage payment affordable.
Remember, apply by Aug. 30 to get entered into the lottery.
- AC Boost application process
- AC Boost Program Manual
- Contact a homebuyer counseling agency to attend a First-Time Homebuyer educational workshop or receive personalized counseling on your financial readiness
- Learn about mortgages, closing costs, and more through the Consumer Financial Protection Bureau's Home Loan Toolkit