Proposition 123 Homeownership Guidelines Now Published!

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DOLA’s Division of Housing (DOH) is committed to transparency and keeping you apprised of our progress as we implement Proposition 123. We’re pleased to announce the publication of the Proposition 123 Homeownership guidelines for New Construction/Acquisition Rehabilitation, Mobile Home Programs, Down Payment Assistance Programs (DPA), and Single Family Owner Occupied Rehab Programs (SFOO). Key highlights include: 

  • Increase to $70,000 per unit cap for developing homes;
  • Possibility of bonus funding for State’s priorities;
  • Pre-development grants may be made up to $25,000; and
  • Up to 20% of the purchase price of down payment assistance may be provided. 

Thank you to our statewide partners - your meaningful feedback directly informed the development of these guidelines.

DOH Office of Housing Finance and Sustainability Application Due Dates and Funding*

For fiscal year 2024 to 2025, $60 million will be available for homeownership projects and programs. DOH will initially prioritize $45 million for homeownership development and $15 million for programs (DPA, SFOO) throughout the fiscal year. This is more than five times the amount DOH invested in homeownership from last fiscal year, excluding one-time stimulus funds. It is also important to note that additional funds will be available, but the funds will be included in competitive rounds and the funding source is eligible for both homeownership and rental.

*This is subject to change, as State Vendor Fee allocations are received monthly and are dependent on sales tax proceeds. 

A description of the following information is located at the Application Due Dates, Funding Availability, and Sources through 2024 web page.

DOH Application Due Dates and Funding Available through 2024

*The calendar for the rest of fiscal year 2024 to 2025 will be released no later than November 1, 2024; this will include funding for both rental and homeownership development projects.

**Funding amounts are subject to change, as Vendor Fee proceeds are impacted by sales tax proceeds. DOH will announce how much funding will be made available with each application upon publication of LOIs.

Looking ahead to the upcoming fiscal year, DOH will be adjusting its application cadence in alignment with HB24-1308. DOH staff is working hard to determine funding rounds and scoring criteria. We’ll be in regular communication with you, specifically seeking stakeholder input as we develop those deliverables.