Interested in applying?
There are two ways to access AC Boost funds:
1) Lottery Process
There will be at least one AC Boost lottery per year. Before a lottery, there will be a 30-day period in which you will have a chance to submit a Pre-Application through the website. The Pre-Application process checks your eligibility for an AC Boost down payment assistance loan based on your stated information, and if your household is considered eligible, you are entered into a lottery. After the lottery drawing is held, households will be invited to submit full applications in order of the lottery ranking. If you are invited to submit a full application and are deemed eligible, you will be issued a Reservation of Funds for an AC Boost loan, which will allow you to then begin shopping for a home. Check out our 10-step overview of the application process or an Applicant Step-by-Step Example.
The Pre-Application period for the current funding cycle closed on April 26th, 2019 at 5:00 pm. If you would like to be notified of the next Pre-Application period and lottery, please sign up to Stay Connected, Hello Housing’s email newsletter.
If you submitted a Pre-Application and received a lottery number, you will be notified of your lottery position on May 3rd, 2019.
2) Ready-to-Go Process (available in July 2019)
If you are already in contract for a home located in Alameda County, you may be able to access AC Boost loan funds without participating in the lottery process. AC Boost reserves 10% of available funds for Ready-to-Go applicants. As long as funds are available, household that are already in contract for a home may skip the lottery process and directly submit a full application package upon an eligible Pre-Application submission. Please note, the close of escrow on your contract must be a minimum of 60 days from the date of your Pre-Application submission.
Based on currently market conditions, we anticipate most users of the Ready-to-Go process will be buyers of Below-Market Rate homes, tenants who are purchasing their homes, or buyers of distressed (but finance-able) properties.
The Ready-to-Go process is not yet accepting Pre-Applications, but if you would like to be notified when it opens, please sign up to Stay Connected, Hello Housing’s email newsletter.
What to expect
Are you Ready?
Buyers must provide a Homebuyer Education Certificate as part of the full application process, after the lottery. Buyers may take courses from any County-approved agency or any HUD-certified agency not currently on the County’s list. Buyers must also participate in a mandatory AC Boost workshop if invited to submit a full application after the lottery. Check out the list of County-approved homebuyer education programs to find one that works for you. Please note: Your Homebuyer Education Certificate must be no more than 1 year old at the time of submission.
For additional information and details of program eligibility criteria, preferences and process, please review the AC Boost Program Manual.