AC Boost requires that no
member of the applicant household have owned any interest in a principal residence during the three-year period preceding the date of the Program Application.
The following interests shall not, by
themselves, disqualify an applicant from being considered a first-time
homebuyer:
(1) Ownership of timeshares;
(2) Loan cosigners from previous
real estate transactions;
(3) Appearing on title solely in the capacity
as a trustee for a trust, where the trustor is living at the time and
in the residence;
(4) Being a named beneficiary of a trust that includes
a housing unit amongst the trust assets, but only if the trustor is
living at the time and in the residence;
(5) Ownership of shares in a
limited equity co-op;
(6) Being a Displaced Homemaker who is now working (Displaced Homemaker is defined as: An individual who has not worked full-time, full-year in the labor force for at minimum three (3) years, worked primarily without remuneration to care for the home and family, is unemployed or underemployed, is experiencing difficulty in obtaining or upgrading employment, and, while a homemaker, owned a principal residence with a previous spouse.); and
(7) Ownership of a mobile home that is not affixed to a permanent foundation and is not considered real property (is not titled with Alameda County), or was built before June 15, 1976.