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A California lawmaker is leading the charge to make undocumented residents eligible for a popular state-backed home loan program, weeks before it gives out another $250 million in down payment ...
The California Dream for All Shared Appreciation Loan program launched in late March, offering qualified first-time home buyers loans worth up to 20% of the purchase price of a house or ...
The bill would’ve granted some undocumented migrants access to a state-funded program that offers up $150,000 in down payment assistance to first-time home buyers. AFP via Getty Images
The California Housing Finance Agency (CalHFA), established in 1975, is an independent California state agency within the California Department of Housing and Community Development that makes low-rate housing loans through the sale of taxable and tax exempt bonds.
A similar program called the First Home Owners Grant (FHOG) was introduced in Australia on 1 July 2000, where first time home buyers can receive a $7,000 once off payment to offset the cost of the GST. While the program is offered nationwide, the scheme is funded by the states and territories and subject to respective legislation. [5]
All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
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related to: home buyer assistance programs california today news vietnamese livefreshdiscover.com has been visited by 100K+ users in the past month