Real Estate
Berkeley Home Ownership: Community College Plan
A down payment assistance program has been launched for educators and school staff.
BERKELEY, CA — Berkeley City College will be the first higher education institution in the East Bay to join Landed, a down payment assistance program aimed at helping educators and school staff to buy homes, the school announced Tuesday.
Landed is a San Francisco-based startup that provides half of the down payment on a home, up to $120,000 per family, in exchange for a portion of any gains or losses when the house is sold again.
"We believe Landed will be a valuable solution to help improve recruitment and retention by making homeownership more accessible," Berkeley City College President Rowena Tomaneng said in a news release.
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Tomaneng said the success of the program in Alameda County with K-12 schools was encouraging.
Landed has worked with more than 200 educators in California, Washington and Colorado, including more than 20 in Alameda County since its inception in 2015.
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Interested employees can apply now for Landed.
— Bay City News