San Francisco mayor announces 27 mln fund to boost homeownership

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SAN FRANCISCO, Feb. 17 (Xinhua) — U.S. San Francisco Mayor London Breed on Wednesday announced the Mayor’s Office of Housing and Community Development (MOHCD) is issuing a new round of Downpayment Assistance Loan Program (DALP) funds for first-time homeownership opportunities.

This year’s DALP program will distribute over 27 million U.S. dollars to up to 80 households and is part of the Mayor’s efforts to make San Francisco a more equitable and affordable place to live, the announcement said.

As San Francisco pursues economic recovery from the COVID-19 impact, the stability of low- and moderate-income families is central to their ability to prepare for and access the opportunities that will emerge, according to the announcement.

“As we get on the road to recovery, I want to make sure that San Francisco remains a city for all and is a place where people can afford to live,” said Breed.

DALP provides up to 375,000 U.S. dollars in down payment assistance to low- to moderate-income first-time homebuyers for the purchase of any market-rate primary residence in San Francisco. The funds are available to a wide range of households earning a variety of incomes. Enditem

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