Balls

Hey Augie, I typed a response to this but it didn’t post. Trying it again, The up to $150k is only for the down payment. So if a house is selling for $600000 they would get a grant for 20%, $120,000 to be repaid when they sell or refinance the property. Here is why it won’t work and very little of this money will ever be used: the down payment is covered but what about the balance of the purchase price? Banks and mortgage companies don’t lend to undocumented. A few niche lenders do but at 10 or 11% and very tough loans to get.

Down payment assistance programs exist today for everyone that qualifies. Usually a first time homebuyer.

abc7.com

A California proposal could make undocumented migrants eligible for up to $150,000 in state-supported home loans through the state's first-time homebuyers program.