City of Dublin Updates its First-Time Homebuyer Loan Program

At its meeting held on Tuesday, September 3, the Dublin City Council approved updates to the City's First-Time Homebuyer Loan Program (FTHLP). The program is designed to increase avenues for homeownership for those who live or work in Dublin. Recent changes to the program expand the programs benefits and make it easier for people to utilize the program and to purchase their first home. To qualify for the program, your household must have a moderate income (120% adjusted median income) or below, must not have purchased real property within the last three years, qualify for a primary mortgage with a lender, and make a minimum down payment of three percent (3%).

Benefits of the program include a maximum loan amount of up to 20% of the purchase price, with a not-to-exceed loan amount of $100,000. No principal or interest payments are due for 30 years, or until you refinance or sell the home. The FTHLP has a simple interest rate of three percent (3%) per year, and the program can be combined with other public downpayment assistance programs; for example, the Alameda County AC-Boost FTHLP. For more information, please visit www.dublin.ca.gov/housing/fthlp.