Pleasanton’s Down Payment Assistance program has been around since 2003. In late 2006 Pleasanton temporally lost its funding; which since has been restored by CALHFA. In order to maximize the success of the program, the Pleasanton City Council will be meeting November 6 th to recommend the following modifications to the Pleasanton Down Payment Assistance Program.
Amendments include:
Modification of co-signer restriction
Deferral of payments and interest on the first 10yr- amortization loan for the first 3 years
50/50 split between City and CALHFA funds
Increase in loan amount from $40,000 to $60,000
The program changes, due to be approved tonight, will be a great value to First Time Homebuyers looking to purchase Real Estate in the Fantastic Pleasanton Community. The amendment mirrors down payment assistance programs that have been very successful by our neighbors in Livermore and Dublin. The commission will also recommend that from the department they will solicit input from local lender and Real Estate agents before forwarding their recommendation. IT ABSOLUTLY GAINS MY APPROVAL.
