SANTA ROSA, Calif. – For one Novato family of four, the start of a new year marks a milestone they once thought impossible—celebrating in a home of their own. With two children, ages 14 and 8, the family faced the challenge of saving for a down payment in one of California’s most competitive housing markets.
“We never expected to buy a home in Marin County,” said RCU member Amit Sharma, an assistant professor at a nonprofit institute, whose wife, Diana, runs a small business. “Between rent, daycare, and everyday expenses, saving enough seemed out of reach.”
The Sharmas join twelve other families and individuals who have been able to buy their first home thanks to the Down Payment Assistance (DPA) program through the Redwood Credit Union Community Fund (RCUCF). As of January 15, $292,000 in grants have been provided, with more than $5.3 million in mortgage loans generated.
“We founded RCUCF to ensure we can respond when our members and communities need us most, including expanding access to housing,” said RCU President and CEO Brett Martinez. “Programs like DPA empower people to achieve their dreams and build lasting financial resilience.”
Since launching last March, the program has helped first-time homebuyers in Napa, Marin, Mendocino, Solano, and Sonoma counties.
“It means everything,” Sharma said. “We have an emotional connection to this community, and now we have roots here.”
Through the First-time Homebuyers DPA Program, RCU members may receive a forgivable down payment assistance grant of up to 5% of the home price or $25,000, whichever is less. Mortgage loans are provided to members through RCU.
“We know how challenging it can be to purchase a home,” said Mishel Kaufman, RCU Chief Operating & Risk Officer and RCUCF president. “By combining the DPA grant with a team dedicated to personalized support, we’re making homeownership possible for more families.”
Sharma credits the RCU team for making the process seamless and supportive, especially their loan officer, Misty. “She has been extremely kind and patient throughout the process and made us feel part of their family,” he said.
The family encourages others to explore the program, calling it “a lifeline for families who need a little help in realizing their American dream.”
For more information on the DPA program, please visit rcucommunityfund.org/down-payment-assistance.