On June 6, 2024 the Hayward City Council approved the allocation of $2 million to establish a down payment assistance program and revolving loan fund to assist both current and future low-income homebuyers.
Hayward is committed to assisting its residents with their housing needs. The City of Hayward has long identified homelessness and housing affordability as key issues in the community and has supported local efforts to address these issues.
The city’s goal is to expand access and choice for residents and protect their rights to quality homes that are affordable, safe and healthy. Down payment assistance is a very helpful tool to address barriers to homeownership for low-income families.
The down payment assistance will be provided in the form of a shared appreciation loan in an amount not-to-exceed $300,000. To be eligible, borrowers must be low-income, first-time homebuyers, and preference will be given to applicants that either live or work in the City of Hayward.
Additionally, to ensure that the down payment assistance program will also assist future households, a revolving loan fund will be established to provide down payment assistance loans to future eligible households from loan proceeds.
Housing Division staff can be reached at (510) 583-4454. Para español llamar (510) 583-5547.
