First-time homebuyer program feasibility
Summary
With median East Palo Alto home prices around $1.1 million and a housing assistance fund of only about $405,000, staff said a traditional down-payment loan program isn't feasible. Council steered toward education, closing-cost help, and possibly targeting below-market-rate units.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed May 5, 2026.
Impact analysis
Only about $405,000 is available in the housing assistance fund; administering eight down-payment loans alone would cost roughly $150,000.
First-time homebuyers, potentially prioritized for local residents and below-market-rate unit buyers.
Mentions & discussions (1)
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