SACRAMENTO, California. The Sacramento Housing and Redevelopment Agency wants people to purchase a house in the City. To sweeten the deal they offer grants up to $22,000 to cover closing costs and down payments.
As Sacramento housing prices rise amid a seller’s marketplace, and even with a pandemic mixed in, the financial assistance was needed. The grants were awarded to those who met multiple criteria. They also had to attend workshops on financial literacy and homebuying through the Sacramento Realtist Association.
These grants were part of the Community Homeownership Initiative program. Although anyone can apply for grant money to purchase a home, this effort was geared towards Black potential buyers.
Jason Whigham from My-DownPaymentAssistance.com highlighted the importance of grants in a March interview.
Jason stated that they use it to pay their closing costs. Whigham said, “They can also use it to purchase the interest rate down. That’s a huge help.”
Whigham stated at that time that people were already signing up for the program. Although the March workshops are over, Whigham said that the program’s success could lead to more opportunities in the future.
This is the Community Homeownership Initiative’s program:
Comprehensive counseling and education for home buyers
Financial literacy training
First-time home buyer workshops
Flexible mortgage programs/products for Greater Sacramento neighborhoods.
Who was eligible for the grant money
Earn up to 80% of the AMI for four-person families, which is about $69,000.
First-time homebuyers in Greater Sacramento Region
Many people visited the Sacramento Realtist Association website to find out more information and attend homebuyer workshops.
Individuals who were issued a certificate by the Sacramento Realtist Association to gain closing cost and down payment assistance.
Families who have found a home in the Greater Sacramento region.
More information on this initiative and the grant program can be found at the My-DownPaymentAssistance.com, or by calling (916) 413-3967.