Program Highlights
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County: |
San Bernardino |
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Agency: |
NHSIE |
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Web-Site: |
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Contact e-Mail: |
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Contact Us: |
(866) 667-6724 |
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How to Qualify: |
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Eligible Homes for Sale: |
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Program Description: |
Down Payment Assistance Loan |
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Maximum Purchase Price: |
Can not exceed Area Median Sales Price |
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Income Restrictions: |
Yes |
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Requires Repayment: |
Forgiven after 45 Years |
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Buyer Contribution: |
Minimum $1,000 toward purchase |
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Eligible 1st Loan Terms: |
30 Year Fixed Rate / Fully Amortized |
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Eligible 1st Loan Types: |
FNMA, FHLMC, CalHFA, FHA |
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Ineligible 1st Loan Types: |
N/A |
Program Summary
First Time Home Buyer Down Payment Assistance is available for First Time Home Buyers within the city limits of San Bernardino. Down Payment Assistance is a silent second at 0% interest that is forgiven after 45 years.
Program Details
Eligible Buyers: First Time Home Buyers - Can not have owned a home in past 3 years
Maximum Assistance: Up to 30% of Purchase Price
Income Limits: 120% of Area Median Income - Income Limits Here
Payments/Recapture: The loan must be repiad when the home is sold, transferred, refinanced, or converted to a rental property, plus a certain percentage in equity share depending when the home is sold or refinaced within the specified Residency Period.
Eligible Properties: Family must purchase an existing single family detached home. Condominiums, manufactured homes on a permanent foundation & town homes are permitted.
Eligible Cities/Areas: City limits of San Bernardino
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, first time home buyer, silent second
