California Legislature Allows Illegal Immigrants to Get Free $150,000 Home Down Payment Loans
The California legislature passed a bill allowing undocumented immigrants to make use of the state’s $150,000, $0 down, 0% interest home “loans.” The bill now goes to the governor’s desk, where he must either veto or approve the bill by the end of September.
California has one of the worst home shortages in the nation, with an estimated 4.5 million home shortage and a nearly $1 million median home price.
"Many generational Californians can’t afford to buy a house in their home state thanks to Democrats’ unsustainable economic policies,” said State Senate Minority Leader Brian W. Jones, R-San Diego, in a statement urging California Gov. Gavin Newsom to veto the bill. "This policy is not only unfair but also sends a dangerous message: ‘Come to California, whether legally or illegally, and claim your $150,000 home loan.’"
California’s Dream for All Shared Appreciation Loans program allows applicants to secure “loans” of up to $150,000 or 20% of the home’s purchase p...