The Measure A1 homeownership programs are designed to make ownership more accessible to low-income households and to help preserve those homes currently owned by low-income families. They are open to all households that qualify and additional attention is focused on ensuring participants in the homeownership programs reflect the racial and ethnic diversity of Alameda County.

The Downpayment Assistance Program (DALP)

Many families can afford the mortgage payment for a home but are unable to save for a down payment. The Down Payment Assistance Program, now called “AC Boost,” was created to assist these middle-income, first-time homebuyers with a down payment so that they can get into a home and start building generational wealth and familial stability.

Eligible households have annual incomes at or below 120% of Area Median Income. Qualifying households are eligible to receive an AC Boost loan of up to $210,000 to first-time homebuyers who live or work in Alameda County or have been displaced from Alameda County within the last ten years. Educators and first responders receive preferences for AC Boost loans.

AC Boost loans are structured as shared appreciation loans, with no interest and no monthly payments. At time of sale (or in some circumstances, when refinanced or transferred) the AC Boost loan principal will be repaid, along with a percentage of the increase in value of the property on a pro-rata basis. Eligible buyers are required to invest a very small amount of their own funds as a portion of the down payment and must qualify for a first mortgage from a participating lender.

AC Boost will have three full lottery processes. The first two were conducted on May 3, 2019.

At time of sale (or in some circumstances, when refinanced or transferred) the AC Boost loan principal will be repaid, along with a percentage of the increase in value of the property on a pro-rata basis. Eligible buyers are required to invest their own funds of at least 3% of the purchase price of the home as a portion of the down payment and must qualify for a first mortgage from a participating lender. In 2018, Hello Housing was chosen as AC Boost’s Program Administrator through a competitive Request for Proposals (RFP) process.

Hello Housing is AC Boost’s program administrator. Hello Housing is a non-profit housing developer with a strong track record of program administration and work on public policy. The organization advances housing solutions that promote stability, center equity and cultivate community.

The Home Preservation Loan Program

Keeping low-income homeowners in their homes (i.e.; housing preservation) is important. A family that can remain safely in their home and age in place is not competing for homes on the ownership market, is not placing more pressure on the rental market, and is potentially building generational wealth and housing stability for their family.

Renew AC provides attainable, low-interest loans that allow seniors, people with disabilities, and other low-income homeowners to make much-needed improvements to their homes. This program also provides services to navigate those home improvements. In some cases, this means providing temporary housing.

Renew AC provides 1% deferred interest loans up to a maximum of $150,000 for eligible home improvement projects specifically to address health and safety conditions in owner-occupied homes. This work helps homeowners to stay in their homes as they age, face disability, or would otherwise be unable to renovate and upgrade major home systems.

Renew AC serves homeowners in Alameda County earning up to 80%

• AMI, seniors and people with disabilities.

Through a competitive bid process HCD recruited Habitat for Humanity as the program administrator for Renew AC. Habitat for Humanity is a non-profit with a long track record of building and preserving affordable housing and empowering people to be home owners.