California Democrat state senators on Tuesday overwhelmingly voted to pass a bill that would give illegal aliens $150,000 interest-free home mortgage loans.
Illegal aliens will get zero down payment, interest-free home mortgage loans under this new bill.
California’s Democrat governor Gavin Newsom hasn’t said whether he will sign the bill.
Democrat assemblymember Joaquin Arambula (Fresno) recently introduced Assembly Bill 1840 to extend a first-time homebuyer loan program to illegal aliens.
If the bill becomes law, illegal aliens will be eligible for a new program that offers a loan worth 20% of the purchase price of the residential property. There are no monthly payments and no interest accrues on the loan. Rather, the loan is paid back when the borrower refinances or sells the property. The borrower will have to pay back the original loan plus a 20% increase in the value of the property.
California’s Democrat lawmakers in the State Senate approved AB 1840 23-11.
The bill will head to the California assembly for final approval after lawmakers in the senate made changes.
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