Home Access Program (Alameda and Contra Costa)

On a $500,000 Oakland condominium, Home Access can lend the full $200,000 because 40% of that price equals the cap. The buyer contributes the required 3%, or $15,000, at least half from their own savings. That leaves a $285,000 fixed-rate first mortgage, which is 57% of the value and inside the program's 55% to 80% range. The combined loan-to-value lands at exactly 97%, the program maximum.

Estimated closing costs on a home at that price in Oakland run about $10,000 to $15,000, based on the 2% to 3% range our Oakland data uses. Housing Trust expects buyers to have 5% of the price, or $25,000 here, for down payment and closing, plus one month of housing costs in reserve after closing. Seller credits can lower the closing bill.

The Home Access loan costs $6,000 of simple interest a year, never compounded, so selling in year ten means repaying $260,000. A buyer earning under 80% of AMI could also ask a WISH member bank about FHLBank San Francisco's 4-to-1 savings match, up to $32,837 in 2026, for closing costs, but Housing Trust must approve every extra funding source.

Home Access allows gift or grant funds from an immediate relative or an acceptable entity for the down payment, closing costs or reserves, but no more than half of the required 3% contribution can come from a gift. FHLBank San Francisco's WISH grant, a 4-to-1 match on buyer savings up to $32,837 in 2026, is the most likely pairing for buyers under 80% of AMI when the participating first-mortgage lender is a WISH member. Housing Trust's written approval is required first.

Applicants may use only one Housing Trust loan per transaction, so Home Access cannot be layered with another Housing Trust program. Any other second loan must defer payments for the full Home Access term with no balloon, and Housing Trust must approve it. CalHFA's MyHome and ZIP loans ride on a CalHFA first mortgage, which usually runs far above the 80% first-loan ceiling Home Access sets, so check at 408-703-3837 ext. 301 first.

To lower cash to close, negotiate seller credits toward closing costs, or ask the participating lender about lender credits on the 30-year fixed first loan. Up to half of the 3% contribution may also come from a retirement-plan loan under Housing Trust's guidelines. Buying a condo or townhome below the county median price keeps the first mortgage, the reserve requirement and the closing bill smaller.

The biggest advantage is size: up to 40% of the price, capped at $200,000, which can cut a first mortgage nearly in half. There is no monthly payment for 30 years, and the 3% rate is simple interest, so a $200,000 loan accrues $6,000 a year, not a compounding balance. The buyer's minimum is 3% of the price, half of which can be a gift. Compared with CalHFA MyHome at 3% to 3.5%, Home Access lends roughly ten times more on an East Bay home.

The biggest limitation is access: funds are limited, released first-come, first-complete, and buyers wait in a queue with no set timeline. The loan is not forgiven, so the full principal plus all accrued interest comes due at sale, refinance or year 30. Income counts every adult in the home at 80% of AMI, and the 620 credit floor, 45% back-end ratio and county median price cap rule out some buyers. Buyers who miss these rules can look at FHLBank San Francisco's WISH grant, CalHFA MyHome, or FHA loans with 3.5% down.