STATEWIDE PROGRAMS

My Home Assistance Program

Assistance Available:
The California Housing Finance Agency manages the My Home Assistance Program and offers up to 3.5% of the purchase price in the form of a deferred payment junior loan to help defray downpayment and closing costs to purchasers who obtain a CalHFA first mortgage.

Qualifications:
First time home buyers only qualify (have not owned a home in the last 3 years). Buyers must not exceed the CalHFA income limits. The buyer must occupy the home as the primary residence. Completion of homebuyer education counseling is required. The purchase price of the home cannot exceed $765,000. A maximum of 5 acres has been set. The property can be a single family, approved condominium, or manufactured home. Condos must meet the first mortgage guidelines.

CalHFA School Teacher and Employee Assistance Program

Assistance Available:
The California Housing Finance Agency provides downpayment assistance to qualifying teachers, administrators, employees and staff. The offer is in the form of 4% of the sale price or appraised value, whichever is less. This loan is available to any teacher or staff employed by California public schools, charter schools, school district offices, and county/continuation schools. As of January 1, 2018 the Extra Credit Teacher Home Purchase Program is discontinued.

CITY AND COUNTY PROGRAMS

Brentwood

Assistance Available:
The City of Brentwood’s Housing Division offers downpayment assistance of up to $10,000 in the form of a deferred payment loan. The funds may be used to help defray the cost of the downpayment and/or closing costs. Funds are limited and issued on a first come, first serve basis.

Qualifications:
First time home buyers (have not owned a home in 3 years) only qualify. Household income must be less than 120% of area median. Preference may be given to residents or individuals who work in Brentwood. Buyers must use a preferred lender. Buyers must contribute at least 3% of the downpayment in personal funds. Buyers must complete a first time homebuyer course. The home purchased must be within the city limits of Brentwood and not exceed a purchase price of $600,000.

Emeryville
First Time Homebuyer Program (FTHB)

Assistance Available:
The First Time Homebuyer Loan Program offers buyers with low or moderate income downpayment assistance in the form of a loan that is 5% or 75% of the interest of the first mortgage rate. The maximum loan amount is 150% of the downpayment or 20% of the contract sales price.

Qualifications:
The buyer must contribute at least 3% of the downpayment and occupy the home as a primary residence for the duration of the loan. The buyer’s income must not exceed 120% of the area median and is based on household size. The loan comes due when the buyer vacates the premises or in 30 years, whichever comes first.

DCCA Jurisdiction

Homebuyers Downpayment and Closing Cost Assistance (DCCA) Calhome Program

Assistance Available:
This program offers 17% of the purchase price for downpayment costs and 4% for closing costs ($10,000 maximum). There are no monthly payments and interest is accrued at 3% simple interest annually. Payment is deferred until the property is sold, refinanced (except FHA streamline), the first mortgage paid off, or the owner vacates the property as a primary residence. The loan amount with all accrued interest is due and payable in one payment at that time.

Qualifications:
The purchase price must not exceed $427,500 for attached homes and $598,000 for detached homes. The home purchased must be a single family detached, condominium, townhome, or manufactured home on a permanent foundation. The property must be occupied by the owner occupant or be vacant. No more than 2 people per living space is allowed. Flood insurance is required if the property is located in a flood plain. The entire household cannot exceed 80% of the San Diego area median income. The buyers must contribute 3% of the purchase price. The buyer must complete a HUD/Calhome Buyer Education Class.

Monterey County
Downpayment Assistance Program

Assistance Available:
The County of Monterey has a downpayment assistance program offering qualified buyers 20% of the purchase price or the amount necessary as determined by underwriting criteria. The assistance is in the form of a 30 year loan at 3% simple interest. The borrower is allowed to start repaying the loan at any time.

Qualifications:
Buyers annual income must not exceed 80% of Monterey County’s median. You must contribute 3.5% of the purchase price. The home purchased must be in an unincorporated area of the county. The maximum purchase price is $396,000.

The City of Santa Ana
Down Payment Assistance Loan Program

Assistance Available:
Santa Ana’s downpayment assistance program consists of a loan up to $80,000 at 0% interest as long as the home is owner occupied. Repayment of the loan is required at the end of its 45 year affordability term.

Qualifications:
Only first time home buyers (have not owned a home within 3 years) qualify. There are income requirements. The buyer must contribute a minimum of 3% of the downpayment in the form of seasoned funds. You must complete an 8 hour in-house homeownership training class approved by HUD.

Student Incentive
Homebuyers who graduated from high school in Santa Ana and went on to earn 4 year college degrees are eligible for a loan forgiveness of up to $40,000. $10,000 will be forgiven every 5 years up to 20 years.

City of Riverside
Riverside Down Payment Assistance Program

Assistance Available:
The City of Riverside was awarded a CALHome grant that offers up to $50,000 in the form of a 0% interest deferred loan. Funds are limited and offered on a first come, first serve basis. As of 6/17/2019 the program was unavailable.

Qualifications:
The buyer’s combined household annual income may not exceed 80% of the area median. The buyer must be able to contribute 1% of the purchase price from personal funds. The buyer must not have owned a home in the previous 3 years. The buyer’s credit score must be consistent with FHA requirements.