Emeryville Accessible Living Initiative

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Must be HomeownersFinancing terms for homeowners are based on the homeowner's household income. Please look at the chart below to determine the financing terms available. Household Income Below 80% AMI 81-120% AMI Over 120% AMIMaximum Loan Amount $15,000 $15,000 $15,000Interest Rate 3% for 5 Years 3% for 5 Years 3% for 5 YearsLoan Term 5 Years 10 Years 10 YearsRequired Repayment No payment required. No payment required. Monthly payments required Forgiven at the end of the loan term. Forgiven at the end of the loan term. HOAsFinancing terms for HOAs are based on when the property was built. Please look at the chart below to determine the financing terms available. Year Property Built (See Note1) Pre-March 1991 Post March 1991Maximum Loan Amount Lesser of $45,000 or 50% of the Total Cost Lesser of $45,000 or 50% of the Total CostInterest Rate 3% for 10 Years 3% for 10 YearsLoan Terms 10 Years 10 YearsRequired Repayment No payment required. Forgiven at the end of the loan term. Bi-Monthly payments required.Note1: Year property built is based on the date the temporary certificate of occupancy or certificate of occupancy was issued. Rental PropertiesFinancing terms for Affordable Rental Properties are below. 100% Affordable Property (See Note2) Mixed Income Affordable Property (See Note3)Maximum Loan Amount Lesser of $45,000 or 50% of the Total Cost Lesser of $45,000 or 50% of the Total CostInterest Rate 3% for 10 Years 3% for 10 YearsLoan Terms 10 Years 10 YearsRequired Repayment No payment required. Forgiven at the end of the loan term. Bi-monthly payment requiredNote2: Must have an affordability agreement recorded against the property, where all rental units are affordable except the designated Property Management Unit.Note3: Must have an affordability agreement recorded against property, where at least 12% of the rental units are affordable.

Applications Accepted on a First Come First Serve Basis Until December 29th, 2024