San Mateo County Community College District’s Home Loan Program Under Heavy Review | Local News

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The San Mateo County Community College District Board of Trustees has agreed to review its employee home loan program, following allegations that the offer could be seen as predatory.

The district began offering the program in 2001 to help employees looking to buy a home in the increasingly expensive Bay Area market. Those who work for the district can borrow up to $150,000 as a down payment, interest-free for the first five years and at a low rate for the next five years.

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