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The California Senate Appropriations Committee advanced a bill to allow undocumented immigrants  to make use of the state’s zero down, no payment home “loan” program, an expansion the legislature says would create “significant cost pressures.” 

“The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all,” wrote bill author Assemblymember Joaquin Arambula, D-Fresno. “When undocumented individuals are excluded from such programs, they miss out on a crucial method of securing financial security and personal stability for themselves and their families.” 

AB 1840, which already passed the Assembly and now faces a floor vote in the Senate, would prevent the state’s California Dream for All Shared Appreciation Loans program from denying individuals on the basis of their immigration status. This program allows applicants to secure “loans” of up to 20% of the home’s purchase price — or, about what a typical down payment is — with zero down payment on this state loan, and no payments. 

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