Provide creative financing to help more buyers get unrestricted-deed properties
Project Description
One of the focuses of the City of Hayward's housing programs funded by American Rescue Plan Act 2021 Coronavirus State and Local Fiscal Recovery Funds (ARPA-SLFRF) funds is to help people retain or build wealth. The down payment assistance program is funded with $2 million in ARPA-SLFRF funds to provide low-income, first-time homebuyers with shared appreciation, down payment assistance loans up to $300,000 to help purchase market rate homes. To ensure that the down payment assistance program will also assist future households, a revolving loan fund will be established to provide down payment assistance loans to future eligible households from loan proceeds.
Q4-FY24 Status Update (Updated Fiscal Year Quarterly):
| Start Date: 06/06/2023 | End Date: 06/04/2024 | Percent Complete: 10% |
City of Hayward, California | 777 B Street | Hayward, CA 94541 | 510-583-4000