Thursday, March 06, 2008California First Time Buyer Grants - Part II
This is part two of yesterday's post. I didn't announce that yesterday was Part I.
I just thought I'd let it happen.
Nothing gets by the watchful eye of Super Sharp Real Estate Agent, Susan Goulding! She called me on why the list stopped at M.
Could that be because she works in Tracy?
Susan who really knows Tracy, passed along this tip:
"FYI - Tracy has a $75,000 downpayment assistance program for low to moderate income earners. Property must be in the City's Redevelopment Zone -- 3% simple interest for 30 years as long as you live in the property and don't refinance. It's a fantastic program - eliminates MI for most 100% buyers."
So Susan Goulding, here is your list for California First Time Buyer Grants from N to Y
(You'll notice my email completely missed Tracy's program)
Once again...
I'm not sure if these are accurate or currently available but one of my loan officer friends sent this list and I thought I would pass it along.
Some of these might be grants, some might be loans, and some might be old and obsolete. I know, if I am working on a loan for a first time buyer, as a loan officer I always check and see if there are applicable programs available and if so what factors that program has. Sometimes it works out well - other times my clients are glad I read the fine print.
For instance, the city of Concord has a grant program for first time buyers. I pulled the information and on the surface it looked good. "a zero-interest, 45-year loan"
You can't argue with ZERO % right?
Down the page a bit I found these little nuggets...
- "The City loan carries shared appreciation when the home is sold."
- "When you notify the City of your intent to sell or transfer your FTHB home, the City of Concord has the option to designate an eligible purchaser who meets the income requirements of our FTHB program. This enables the City to meet 2002 requirements of Community Redevelopment Law, which requires this FTHB property to remain affordable for a total of 45 years."
- "There are resale restrictions recorded on the deed to the FTHB home. The Resale Restriction Agreement limits the sales price of your house when you sell. When you are ready to sell the home, the City will calculate the maximum future resale price, which is not equal to the full market value."
Suddenly ZERO % doesn't sound so perfect anymore does it?
So take it with a grain of salt but here are some possible programs that might help the new homeowner...
| Napa First Time Homebuyer Loan Program (FTHB) | $69,350 | (707) 257-9543 |
| National City First-Time Homebuyer Program (FTHP) | $17,000 | (619) 336-4250 |
| Nevada County Downpayment Assistance Program (DAP) | $40,000 | (530) 265-1388 |
| Norco First Time Homebuyer Program (FTHB) | $22,500 | (909) 270-5645 |
| Oakland "Public Safety Officer/Teacher/Communications Dispatcher Down Payment Assistance Program" (DAP) | $10,000 | (510) 238-3909 |
| Oakland Mortgage Assistance Program (MAP) | $50,000 | (510) 238-3344 |
| Oroville First Time Homebuyer Program (FTHB) | $50,000 | (530) 538-2495 |
| Oroville First Time Homebuyer Program (FTHB) | $40,000 | (530) 538-2495 |
| Oxnard Historical Enhancement & Revitalization of Oxnard (HERO) | $5,000 | (805) 385-7400 |
| Oxnard Resale Housing Conditional Matching Grant Program (GRANT) | $10,000 | (805) 385-7400 |
| Palmdale Mortgage Assistance Program (MAP) | $10,000 | (661) 267-5126 |
| Pasadena Homeownership Opportunities Program (HOP) | $60,000 | (626) 744-8316 |
| Pasadena Neighborhood Housing Services Inc CalHome First Time Homebuyer Program (FTHP) | $30,000 | (626) 744-4141 |
| Paso Robles CalHome Program (CalHome) | $90,000 | (805) 237-3970 |
| Placer County First Time Homebuyer Assistance Program (FTHB) | $35,000 | (530) 889-4246 |
| Pomona Calhome First Time Home Buyer Program (FTHB) | $30,000 | (909) 620-3630 |
| Porterville First Time Low Income Home Buyer Program (FTHB) | $20,000 | (559) 782-7460 |
| Rancho Cucamonga First Time Homebuyer Program | $16,000 | (909) 884-6891 |
| Redding Downpayment Assistance Program (DAP) | $35,000 | (530) 225-4173 |
| Redlands First Time Homebuyer Program (FTHB) | $15,000 | (909) 884-6891 |
| Richmond In-Fill Homeowner Assistance Program (INFILL) | 40,000 | (510) 307-8151 |
| Rio Vista First Time Home Buyer Program (FTHB) | $5,000 | (707) 374-6451 |
| Ripon Gap Down Payment Assistance Program (GAP) | $60,000 | (209) 599-2108 |
| Riverside CalHome Mortgage Assistance Program (MAP) | $30,000 | (909) 341-6511 |
| Riverside County Individaul Development Account (IDA) | $4,000 | (909) 955-4900 |
| Rocklin First Time Homebuyers Down Payment Assistance Program (FTHB) | $35,000 | (800) 995-0431 |
| Roseville First Time Homebuyer Program (FTHP) | $60,000 | (916) 774-5446 |
| Round Valley Indian Housing Homebuyer Assistance Program (HAP) | $25,000 | (707) 983-6188 |
| Sacramento CalHome First Time Homebuyer Mortgage Assistance Program (MAP) | $29,350 | (916) 264-1522 |
| Sacramento County and City First Time Home Buyer Program (FTHP) | $5,000 | (916) 264-1524 |
| Sacramento County and City Homebuyers Assistance Program (HAP) | $2,500 | (916) 264-1524 |
| Sacramento County MCC Expanded Teacher Home Purchase First Time Homebuyer Program (FTHB) | $5,000 | (916) 264-1524 |
| Sacramento County MCC Expanded Teacher Home Purchase Homebuyer Assistance Program (HAP) | $2,500 | (916) 264-1524 |
| Sacramento Mortgage Assistance Program (MAP) | $20,000 | (916) 264-1522 |
| Salinas First Time Homebuyer Downpayment Assistance Program | $40,000 | (408) 758-7334 |
| San Diego County San Diego Neighborhood Housing Services CalHome Program (CalHome) | $40,000 | (619) 282-6647 |
| San Diego Down Payment Assistance Grant (DPAG) Program | $7,500 | (619) 578-7491 |
| San Diego Neighborhood Housing Services Cost Assistance Support for Homebuyers Program (CASH) | $10,000 | (619) 282-6647 |
| San Fernando First Time Homebuyer Program (FTHP) | $45,000 | (818) 898-1233 |
| San Francisco First Time Homebuyer Program (FTHB) | $100,000 | (415) 252-3177 |
| San Joaquin County GAP Loan Program (GAP) | Max 20% | (209) 468-3157 |
| San Jose Neighborhood Housing Services of Silicon Valley, "The Vernal Fund" Mortgage Assistance Program (MAP) | $80,000 | (408) 272-2878 |
| San Jose Teachers Homebuyer Program (THP) | $40,000 | (408) 277-8486 |
| San Leandro First Time Homebuyer Program (FTHB) | $20,000 | (510) 577-6002 |
| San Marcos Down Payment Assistance Loan Program (DPAL) | $10,000 | (760) 744-1050 |
| San Mateo County Start Program 2nd Lien | $65,000 | (650) 802-5033 |
| San Mateo County StartPLUS 3rd Lien | $5,000 | (650) 802-5033 |
| San Mateo Countywide Home Investment Partnership Program (CHIP) | $60,000 | (650) 522-7223 |
| San Mateo First Time Home Buyer Program (FTHB) | $60,000 | (650) 522-7220 |
| Sanger First Time Homebuyers Program (FTHP) | $2,700 | (559) 876-6329 |
| Santa Clara County Deferred Closing Cost Program (DCCP) | $6,500 | (408) 299-5142 |
| Santa Clara County Second Loan Program for Teachers (SLPT) | $10,000 | (408) 441-4260 |
| Santa Cruz County First Time Home Buyer Program (FTHB) | $25,000 | (408) 454-2280 |
| Seaside First Time Home Buyer Program | $30,000 | (831) 899-6728 |
| Shasta County Down Payment Assistance Program (DAP) | $30,000 | (530) 245-6431 |
| Simi Valley Closing Cost Grant Assistance (GRANT) | $3,000 | (805) 583-6853 |
| Simi Valley First Time Homebuyer Assistance Program (FTHB) | $40,000 | (805) 583-6853 |
| Sonoma County Employee Second Mortgage Program (ESMP) | $15,000 | (707) 565-7500 |
| South Lake Tahoe First Time Homebuyer Assistance Program (FTHB) | $60,000 | (530) 542-6157 |
| Stanislaus County Down Payment Assistance Program (DPA) | $50,000 | (209) 525-6330 |
| Stanislaus County Public Facilities Fee Deferral Program (PFF) | $25,000 | (209) 523-6330 |
| Tulare County First Time Homebuyer Program | $20,000 | (559) 733-6291 |
| Turlock First Time Home Buyers Program (FTHB) | $60,000 | (209) 668-5610 |
| Ukiah Down Payment Assistance Program (DAP) | $70,000 | (707) 463-5462 |
| Upland Primary Assistance Loan Program (PAL) | $30,000 | (909) 931-4113 |
| Vacaville Down Payment Assistance Loan Program (DPAL) | $10,000 | (707) 449-5687 |
| Ventura First Time Home Buyer Grants Program (HBAP) | $45,000 | (805) 654-0038 |
| Victorville Mortgage Assistance Program (MAP) | $5,000 | (760) 955-5032 |
| Visalia Homebuyer Assistance Program (HAP) | $20,000 | (559) 738-3460 |
| Waterford First Time Home Buyer Assistance Program (DAP) | $20,000 | (916) 725-1181 |
| Watsonville Downpayment Assistance Program (DAP) | $30,000 | (831) 728-6014 |
| Watsonville First Time HomeBuyer Program (FTHP) | $90,000 | (831) 728-6014 |
| Woodlake First Time Home Buyer Grants Program (HAP) | $20,000 | (209) 564-8055 |
| Yuba City First Time Homebuyer Assistance Program (FTHB) | $50,000 | (530) 822-4697 |
They say the devils in the details....
Make sure you are working with a True Mortgage Professional.
Labels: 100% Financing, Down Payment Assistance, FTHB
posted by Mike
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2 Comments:
How come it ends with "M" cities.
FYI - Tracy has a $75,000 downpayment assistance program for low to moderate income earners. Property must be in the City's Redevelopment Zone -- 3% simple interest for 30 years as long as you live in the property and don't refinance. It's a fantastic program - elminates MI for most 100% buyers.
Susan-
That's a great question!
The list was so long, i have part two coming tomorrow!
Thanks for sharing the Tracy program with us.
If anyone is looking anywhere in the Tracy / Mountain House area I can recommend Susan with all my heart!
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