California Down Payment Assistance Program

CALIFORNIA DOWN PAYMENT ASSISTANCE IS AVAILABLE


Common Questions:

"Does the down payment assistance need to be paid back?" We have access to down payment assistance programs where the 3% funds are granted and do not have to be paid back.

"Do I have to be a first-time homebuyer?" No. We have access to down payment assistance programs that allow you to be an existing homeowner. However, you can only use these programs for your primary residence.

"Do I have to have higher credit scores to qualify?" The required credit scores are the same as those required under the loan program for which you are applying. For example, the scores required by FHA, VA and USDA are sufficient for the down payment assistance program.

"Are there any specific requirements to get the down-payment assistance?" Yes, most of the programs have income limitations as well as other particulars such as being only for new construction or having debt-to-income ratio limitations.

Below are a few available down payment assistance programs

 

SCHOOLS FACILITIES FEE DOWN PAYMENT ASSISTANCE PROGRAM

 

This program is used for new construction only and the amount conditionally granted to the buyer depends on the school district & the size of the home, but the average rebate is $5,100.   If you live in the home for more than 5 years the full amount of the conditional grant is forgiven.  If you live in the home less than 5 years, the conditional grant must be paid back on a pro rata basis. 

There are 2 program types
Program #1 – Economically Distressed Area
Program #2 – First-Time Homebuyer Moderate Income Limits

Under Program #1 participating Counties are:
Fresno, Imperial, Kern, Kings, Merced, San Joaquin, Shasta, Stanislaus, Tulare

Under Program #2 you must be first-time homebuyer (not owned within past 3 years)
There are income limits: inquire for more details

 

CITY DOWN PAYMENT ASSISTANCE

 

Ask me for more details if the specific city in which you want to live offers down payment assistance.  Many of them do. 

 



 


Apply Now

Return to Loan Options

 

facebook twitter
 
 
Powered by Car Loan Calculator
 

Quick Quote

Quick Quote Image

 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
 
secure

Trusted. Experienced. Secure.