VCCDC Awarded $3.3M through CalHome Disaster Assistance Program

Ventura County Community Development Corporation (VCCDC) is pleased to announce it has been awarded $3.3 million in funding through the CalHome Disaster Assistance Program. Since 2007, VCCDC has been awarded $7M in funding for the First-Time Homebuyer Mortgage Assistance Program from the Department of Housing and Community Development for the CalHome Program. With the additional $3.3M in funds awarded, VCCDC will provide down payment assistance for eligible homebuyers in Ventura County. Eligible homebuyers who fall within the area income limits (<80% AMI to <120% AMI) have an opportunity to access up to $100,000 in down payment assistance (other restrictions will apply). This substantial down payment support can be life-changing for residents in areas where housing affordability was already out of reach for many and further exacerbated by the natural disasters in 2017 and 2018. Despite the challenging times after the natural disasters hit its service areas, VCCDC has been successful with assisting many low- to-moderate income achieve their dream of homeownership through its tailored resources and services.  The additional funding will make purchasing an affordable home possible for more local individuals and families. Assemblymember Jacqui Irwin remarks that with this award “our community as a whole will undoubtedly continue to benefit from [VCCDC’s] work to create strong, healthy, and resilient communities with affordable housing throughout California”. “In Ventura County where only 30% of our residents can afford their own home, this funding not only mobilizes resources for local families, but also has a great impact on community growth and development”, says Bertha Garcia, VCCDC’s Executive Director, “Opportunities like the CalHome Program move us one step closer to overcoming the housing crisis we are facing”.

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