Section 51525.
51525. The state and the agency shall not be liable beyond the assets of the fund for any obligation in connection therewith. (Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.)
Section 51526.
51526. (a) The agency shall, on or before January 10, 2023, and annually thereafter, furnish a report to the Legislature providing details of program implementation, including, but not be limited to, the number of loans made and the characteristics of the borrowers. (b) The report required by this section shall be submitted pursuant to Section 9795 of […]
Section 51527.
51527. (a) (1) The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan provided pursuant to this chapter. (2) The disclosure statement required by this subdivision shall include the specific terms of the shared appreciation loan offered to the borrower. […]
Section 51500.
51500. This chapter shall be known and may be cited as the California Homebuyer’s Downpayment Assistance Program. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51530.
51530. For purposes of this chapter: (a) “Homeowner” means an owner of a single-family residential property that does not own more than three residential properties that consist of one to four, inclusive, units. (b) “Program” means the Accessory Dwelling Unit Program administered by the agency. (c) “Agency” means the California Housing Finance Agency. (Added by Stats. 2022, Ch. […]
Section 51501.
51501. The Legislature finds and declares all of the following: (a) There is a continuing and urgent need to provide affordable mortgage financing to meet the increasingly unfulfilled housing needs of citizens of this state. (b) The high cost of housing impedes the ability of California employers to compete in the national marketplace for employees. […]
Section 51531.
51531. (a) The agency shall convene a working group to develop recommendations for the purposes of the program. The purpose of the program is to assist homeowners in qualifying for loans to construct accessory dwelling units and junior accessory dwelling units on their property and to increase access to capital for homeowners interested in building accessory […]
Section 51502.
51502. The purpose of the California Homebuyer’s Downpayment Assistance Program is to assist first-time low- and moderate-income homebuyers utilizing existing mortgage financing. (Added by Stats. 2000, Ch. 81, Sec. 1. Effective July 5, 2000. Inoperative on July 1, 2016, as provided in Section 51511.)
Section 51504.
51504. (a) The agency shall administer a downpayment assistance program that includes, but is not limited to, all of the following: (1) Downpayment assistance shall include, but not be limited to, a deferred-payment, low-interest, junior mortgage loan to reduce the principal and interest payments and make financing affordable to first-time low- and moderate-income home buyers. (2) (A) Except as […]
Section 51505.
51505. (a) In addition to the downpayment assistance program authorized by Section 51504, and notwithstanding any provision of Section 51504 to the contrary, the agency shall provide downpayment assistance from the funds set aside pursuant to subparagraph (D) of paragraph (7) of subdivision (a) of Section 53533 for the purposes of the portion of the Extra […]