Apple Inc on Monday said it has allocated more than $400 million of $2.5 billion it pledged last year to stem California's housing crisis.
FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo
The iPhone maker in November committed the funding to address what Chief Executive Tim Cook called a housing “affordability crisis that is existential” for many residents of the company’s home state. Under the second, Apple has worked through the agency to help provide mortgage and down payment assistance to hundreds of first-time home buyers to date. The mortgage assistance program is aimed at low- and moderate-income first-time home buyers.
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