RCF Connects announced the launch of a transformative down payment assistance program funded by a generous $1 million contribution from U.S. Bank. This initiative will provide eligible first-time homebuyers in Contra Costa County with grants of up to $10,000 to assist with down payments or closing costs—bringing the dream of homeownership within reach for many families.
The program, created to address the growing affordability crisis in the Bay Area, aims to reduce barriers for first-time buyers. With median home prices continuing to rise and down payments often exceeding $100,000 in the San Francisco Bay Area, the path to homeownership can feel impossible—especially for low- and moderate-income households. In Contra Costa County, fewer than 25% of households earn enough to afford a median-priced home without assistance, making this program a vital resource for economic mobility and housing stability.
This new down payment initiative builds on the success of RCF Connects’ Richmond Housing Renovation Program, which restores blighted and abandoned houses and turns them into affordable homeownership opportunities for first-time homebuyers, and RCF Connects’ initiative, SparkPoint Contra Costa, a one-stop financial empowerment center that helps individuals and families achieve long-term financial stability. Through personalized coaching and support, SparkPoint Contra Costa helps people build brighter futures and break the cycle of poverty.
Together, these three programs form a powerful pipeline: RCF Connects acquires and renovates homes, SparkPoint Contra Costa identifies clients ready to purchase a home and now, thanks to support from U.S. Bank, RCF can offer financial support to families ready to buy.
“This is housing justice in action,” Jim Becker, CEO of RCF Connects said. “We’re not only creating homes—we’re making sure people have the resources they need to own them.”
The support from U.S. Bank aligns with the company’s broader Community Possible platform, which focuses on creating lasting change through philanthropy, community investment and volunteerism. The $1 million contribution to RCF Connects will support up to 100 families in purchasing their first home, offering not just financial assistance but hope for a more secure future.
“Safe and stable housing helps children, families and communities thrive. Working with RCF Connects to help homebuyers access down payment assistance is an investment that will benefit generations to come,” said Leena Randhawa Paxinos, community affairs manager at U.S. Bank.
RCF Connects is already disbursing funds to eligible homebuyers in Contra Costa County.
Lucinda Bazile, Chair of the RCF Connects Board, emphasized the long-term vision of the program. “This is a step toward justice. When families are able to own their homes, they can build wealth, create community ties, and pass something meaningful down to the next generation. We are grateful to U.S. Bank for investing in this vision with us.”
For more information about eligibility requirements and how to apply for downpayment assistance, please contact SparkPoint Contra Costa at sparkpoint@richmondcf.org or call (510) 779-3200
About RCF Connects:
RCF Connects (formerly Richmond Community Foundation) mobilizes the power of connection to build healthy, thriving and equitable communities. It is a community foundation anchored in Richmond and connecting Contra Costa County for 25 years. RCF Connects uplifts communities by addressing the root causes of poverty, housing instability, and economic injustice. Through innovative programs like the Richmond Housing Renovation Program and new down payment assistance grants, RCF is helping families build brighter futures—one home at a time.
About U.S. Bancorp:
U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired super-regional banks. Learn more at usbank.com/about.