Housing Initiative: Mayor Announces Home Loan Assistance Program
San Francisco, CA—Mayor Edwin M. Lee today announced the doubling of loan amounts for San Francisco’s Down Payment Assistance Loan Program (DALP), a homeownership program that provides financial assistance to low- to moderate-income first time home buyers, by offering a deferred-payment loan that requires no repayment for 40 years or at the re-sale of the unit. Starting this week, individual loans of up to $200,000 will be available to qualified buyers.
“The expansion of the DALP program proves the immediate and tangible impact of the Housing Trust Fund to assist the City’s first time home buyers and provide homeownership opportunities for San Francisco residents,” said Mayor Lee. “This down payment assistance program has assisted many working families in our City and will continue to support our diverse workforce that is so critical to our economy.” Read more.