Some residents of California will receive an amount of $10,000 in cash as part of the grant under the program of the California Association of Realtors (CAR).
$10,000 cash grant will be given to qualified residents in California. (Photo: MARCA)
$10,000 in Cash for Qualified Residents in California
Housing is still one of the problems that millions of Americans across the country is facing today. This has become a significant problem during the pandemic when millions lost their jobs and millions were ejected from their homes because they could no longer afford to pay the mortgage and rent.
In a published article in The U.S. Sun, the California Association of Realtors (CA) will give a grant of $10,000 to help the residents of the state afford a home. This is intended to distribute funds to would-be homebuyers. However, there are qualifications that grantees need to meet.
READ ALSO: 4th Stimulus Check Update: $1,000 To Be Sent Through Direct Deposit Or Paper Checks, IRS Says
Qualifications for the $10,000 Cash Grant
According to an article published in The Mortgage Reports, the following are the qualifications that grantees need to meet:
- First-time homebuyers must be people of color, disabled, or members of the LGBTQ+ community to qualify.
- Grantees must also make no more than 120% of the area median income, as determined by the California Department of Housing Community Development.
- The grant only applies to single-family residences and condos, leaving out apartment renters, which make up 45% of the state’s population.
Furthermore, this is only intended for the residents of the state who are struggling to buy a home.
READ ALSO: $3 Billion Is Waiting For Residents In Florida, Here’s What You Should Know
