How AB 1840 could support undocumented first-time homebuyers in the Central Valley

FRESNO, Calif. ( KSEE/KGPE ) – Assemblymember Dr. Joaquin Arambula’s new bill was passed and has been sent to the governor’s desk -but how could this bill support undocumented homebuyers in the Central Valley?

Assembly Bill 1840, introduced by Assemblymember Arambula for the first time in January, will not create a new home ownership assistance program but would allow undocumented immigrants who could qualify for the California Dream for All Shared Appreciation Loan to have a chance at homeownership.

According to the program’s website, borrowers must meet California Housing Finance Agency (CalHFA) income limit criteria for the county they are purchasing in. In Fresno County, the income limit is $139,000. For a list of all counties and income limits, click here .

If passed into law, Arambula says his bill would allow undocumented immigrants to apply to the California Dream for All lottery, allowing them to secure a bank loan or mortgage if selected, only if they meet all the criteria. Successful applicants would have to repay the loan, without interest, when (and if) they sell the home.

AB 1840 is about providing an opportunity to hard-working, responsible people who dream of owning a home and passing that legacy to their children – a dream that we all have for all our families in California. And, that includes undocumented immigrants who have lived here for decades and pay their taxes. They have Social Security numbers or ITINs, which are Individual Taxpayer Identification Numbers. They are people who pay millions of dollars into our systems and should be able to receive the same benefits as everyone else.

Assemblymember Arambula.

Arambula describes his bill as a “bill about fairness” and says California is a place where everybody can pursue their dreams.

We are a nation of immigrants, and we should remind ourselves of the value and humanity of the people coming here who make our economy better – an economy that is the fifth-largest in the world. “I believe in a California where we all can pursue our dreams – and we can do it together. And we can be successful, together.

Assemblymember Arambula.

To learn more about the program and its requirements, visit the CalHFA’s webpage.

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