Affordable Housing
Community Development Block Grant (CDBG) Program Coronavirus Response Round 1: California Department of Housing and Community Development
- $18.7 million is available.
- The application period closed in September 2020.
The application deadline is February 1, 2021, for jurisdictions contemplating the use of CDGB Funds for properties purchased with Homekey funds.
Homekey: California Department of Housing and Community Development
- $645 million is available.
- The application period closed in September 2020.
Jurisdictions that received a reservation of Homekey funds to purchase property can apply to the Community Development Block Grant (CDBG) Coronavirus Response program by February 1, 2021, for additional funding. - As of October, 2020 $627 million has been awarded to 45 applicants and 71 projects, totaling 4,646 affordable housing units.
Multi-Family Housing Direct Loans: U.S. Department of Agriculture
- Eligible applicants include: Applicants that cannot obtain commercial credit on terms that will allow them to charge rents that are affordable to low-income tenants. Qualified applicants include: Individuals, trusts, associations, partnerships, limited partnerships, nonprofit organizations; for-profit corporations and consumer cooperatives; Most state and local governmental entities; and federally-recognized Tribes
- Program funds construction, improvement, and purchase of multi-family rental housing for low-income families, the elderly and disabled individuals.
- Applications are accepted on an annual basis.
Single Family Home Loans Guarantees: U.S. Department of Agriculture
- Eligible applicants include: U.S. Citizen, U.S. non-citizen national or Qualified Alien with a household income that
does not exceed 115% of median household income. - Program funds closing costs, reasonable and customary expenses associated with the purchase transaction, connection fees for utilities, tax and insurance escrow, essential household equipment, and site preparation.
- Funding Available: 100% financing with 90% loan note guarantee to approved lenders.
Rural Home Loans (Direct Program): U.S. Department of Agriculture
- Program assists applicants to obtain decent, safe, and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability.
- The maximum loan amount an applicant may qualify for will depend on the applicant’s repayment ability.
- Applications are accepted on a continuous basis.