Alameda County: AC Boost Down Payment Assistance Program

Ready to buy your first home? A new homebuyer (AC Boost) program, funded by Alameda County Measure A1, and managed by Hello Housing, is offering up to $150,000 shared appreciation loans. The loans are currently being offered to its first round of applicants, and in total will include more than 350 first time homebuyers who live in, work in, or have been displaced from Alameda County. Subsequent application rounds to be announced.


AC Boost provides financial assistance to households who would otherwise not be able to afford a home by providing loans of up to $150,000 (depending on buyer income and need). First preference is given (but not limited) to First Responders and Educators. Loans are interest free and have no monthly payment during the time a household owns their home. Instead, the program requires repayment only when (1) the home is sold, (2) when the owner would like to take cash out of the home in a refinance  (3) the owner no longer wishes to occupy the home or (4) when the 30-year loan term ends. At time of payoff, the owner repays the amount that they borrowed plus a proportional share of the increase in the value of their home.

For example: If the AC Boost loan was for 15% of the home purchase price, the homeowner would repay the original loan amount plus 15% of any increase in the home’s value.

EXAMPLE MATH: Suppose the program funds $100,000 of your $650,000 home purchase, or 15.4%. Further suppose when you go to sell the home, it sells for $950,000. It appreciated by $300,000. You would have to repay the initial $100,000 in addition to $300,000 x 15.4% = $46,200. These funds will then be made available to the next first time homebuyers. The remainder of the appreciation ($250,000 or so, less taxes and other closing costs) is yours to keep.


To qualify, your household income must be at or below 120% of the Area Median Income (“AMI”) to qualify for up to $100,000. If your household income is at or below 100% AMI, you may qualify for a larger loan of up to $150,000.

NOTE: You do not need a pre-approval during the pre-application process. However, once selected to move forward, pre-approval is required through an approved lender for the program. The first-round pre-application deadline is April 26, 2019, so act fast and get on the list. Once applied, you will be notified of the next steps in the lottery process, and your name will be referred to a qualified lender to further help get you prepared and pre-approved.


If you’ve already applied and looking for a qualified agent or lender, let’s connect. Contact me using the form below today.

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