Program Highlights
Program Summary
First Time Home Buyer Down Payment Assistance is available for First Time Home Buyers within the city limits of Rancho Cucamonga.
Program Details
Eligible Buyers: First Time Home Buyers - Can not have owned a home in past 3 years
Maximum Assistance: Up to $80,000
Income Limits: 90% of Area Median Income - Income Limits Here
Payments/Recapture: Silent Second no monthly payments.
Equity Share Component: If factors are triggered, family pays $80,000 plus the following: 15% of the equity if rent/sell/refinance with cash out prior to 30th anniversary. 10% of the equity of rent/sell/refinance with cash out between 30th and 45th anniversary.
Eligible Properties: Family must purchase an existing single family detached home. Condominiums & town homes are permitted.
Eligible Cities/Areas: City limits of Rancho Cucamonga
Contribute Home Buyer Comments: Please keep this site up to date and relevant by making comments if you have used this program or are in the process of using it now. By sharing this information it helps all Home Buyers stay informed and up to day.
Categories:
Tags: down payment assistance program, equity share recapture feature, first time home buyer program, rancho cucamonga, silent second
