Undocumented immigrants in California could qualify for first-time homebuying loans should a recently introduced bill become law.
The bill, formally known as AB 1840, would expand the eligibility requirement for the state’s first-time homebuyer loan program to allow undocumented immigrants who live in the state to use it.
The California Dream For All Shared Appreciation loan program, which launched in 2023, helps qualified first-time homebuyers with down payments.
The program, which debuted in March 2023, ran out of the $300 million set aside for the program by April 7. This year, the program application will reopen in April with new changes to address the high demand.
The program was initially created to help low-and middle-income individuals buy homes. Still, Assemblymember Joaquin Arambula (D-Fresno), who introduced the bill, told KTLA that the program doesn’t address eligibility based on immigration status.
“The program hasn’t been clear about eligibility for undocumented individuals, and AB 1840 addresses that issue,” Assemblymember Arambula told KTLA in an emailed statement.
“Let me be clear: anyone who meets the program’s criteria can apply for this loan program. And, to qualify, you must secure a bank loan or mortgage. AB 1840 is about providing an opportunity for homeownership, which we know allows families to secure financial security and stability. The ability to do this strengthens local economies, and that benefits all people who call California home.”
If the bill passes, it would broaden the term “first-time home buyer” to include undocumented immigrants.
“Homeownership has historically been the primary means of accumulating generational wealth in the United States,” he said. “The social and economic benefits of homeownership should be available to everyone.”
The bill would have to pass the state Senate and Assembly and be signed by Gov. Gavin Newsom before it becomes a law.
