With a degree in accounting and a steady career as an internal auditor, Jane Gachucha had the income and credit score to purchase a townhouse in San Diego County for her family. The only thing she was missing: a hefty down payment.
That changed after she learned about the Access Granted Homebuyer Program, an initiative funded by San Diego Foundation (SDF) that provides qualifying homebuyers with up to $70,000 toward a down payment.
Five years after Access Granted launched, Jane is one of 122 families who have purchased homes with support from the program. The milestone reflects SDF’s commitment to expanding housing opportunities across the region, from helping first-time homebuyers overcome down payment barriers to supporting the development of affordable housing for San Diego’s workforce.
Building Generational Wealth
Access Granted helps more San Diegans overcome barriers to homeownership and build generational wealth.
For many families, homeownership can be an important way to build wealth. In 2022, homeowners had a median net worth of $396,200, compared with $10,400 for renters, according to the Federal Reserve.
But buying a home in San Diego can require significant upfront savings. In September 2026, the median home price in San Diego County was $959,000, which would require a $191,000 down payment at 20%.
“Sometimes people assume that needing this kind of assistance means a person is not financially ready to buy a home, but that’s not always the case,” Jane explained. “I’m an example of that. I’m working. I have a good job. I’m an accountant. I have a good credit score. But I know a lot of working middle-class families who cannot afford to purchase a home but are paying $3,500 or $4,000 a month on rent. If they can afford that amount on rent, they can afford to make a monthly mortgage payment. The gap is coming up with the down payment needed to take that step.”
San Diego is one of the least affordable housing markets in the nation, where only 15% of households can afford to buy a home. So far, more than 122 homes, with a total value of more than $48 million, have been purchased through the initiative, which is supported by LISC San Diego and the Urban League of San Diego County.
Something That Can Grow
Jane moved to San Diego in 2024 but was paying a sizeable monthly rent before she purchased her new home in San Diego. As a finance professional, she is more than familiar with the benefits of being a homeowner. She says an often-overlooked element is the educational aspect.
“I want my family to understand the importance of building equity,” Jane said. “We often teach people to save, save, save, but we don’t always teach them to invest in something that can grow and create generational wealth.”
Homeownership has also deepened Jane’s connection to her community. As an involved member of a neighborhood committee, she is helping plan community events and build lasting relationships with her neighbors.
“Homeownership has given my family a greater sense of belonging and community. Those intangible benefits are priceless.”
The experience has inspired Jane to help others.
“Receiving this opportunity has made me want to reach out and help other working-class and middle-income families in planning and preparing to own their own home,” she said. “This opportunity really changed my family’s trajectory, and I want to do what I can to help others to have the same type of opportunity.”
As demand for the program continues to grow, SDF and its partners are seeking additional philanthropic and community support to expand access to homeownership across the region. To explore partnership opportunities, contact Pamela Gray Payton at San Diego Foundation at [email protected].
