BERKELEY (CBS SF) — Berkeley City College will be the first higher education institution in the East Bay to join Landed, a down payment assistance program aimed at helping educators and school staff to buy homes, the school announced Tuesday.
Landed is a San Francisco-based startup that provides half of the down payment on a home, up to $120,000 per family, in exchange for a portion of any gains or losses when the house is sold again.READ MORE: Gov. Newsom Signs Executive Order to Halt Pandemic Evictions Through June
“We believe Landed will be a valuable solution to help improve recruitment and retention by making homeownership more accessible,” Berkeley City College President Rowena Tomaneng said in a news release.
Tomaneng said the success of the program in Alameda County with K-12 schools was encouraging.READ MORE: Armed Guards, Volunteers Join Police to Patrol Streets in Oakland's Chinatown
Landed has worked with more than 200 educators in California, Washington and Colorado, including more than 20 in Alameda County since its inception in 2015.
Interested employees can apply for Landed support beginning Tuesday at landed.com/signup.MORE NEWS: Royals Week: Rare Archival Footage Of Princess Margaret's 1965 SF Visit Unearthed
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