California Down Payment Assistance Programs

Program Highlights

Program Summary

Silent second mortgage loan program for low-income first-time homebuyers; principal and interest payments deferred for term of loan due in 30th year or upon sale or transfer of property, when property ceases to become owner-occupied, or upon repayment or refinancing of first mortgage, whichever comes first.

Program Details

Eligible Buyers: 

All buyers on title must be first-time homebuyers defined as follows: • Someone who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property; or

• A displaced homemaker (see CalHome Definition) who
owned a home; or

• A single parent (unmarried or legally separated) who
owned a home with custody of minor child(ren); or

• An individual who has only owned a mobile home.

Maximum Assistance:  Up to $40,000

Interest Rate:  3%  Simple Interest 

Income Limits:  

Household Size:                     Income:
          1                                 $52,100
          2                                 $59,500
          3                                 $66,950
          4                                 $74,400
          5                                 $80,350
          6                                 $86,300
          7                                 $92,250
          8                                 $98,200

Payments/Recapture:  Silent Second no monthly payments.  Loan is due in 30 years or sooner if property is sold or transferred

Eligible Properties:  Family must purchase an existing single family detached home.  Condominiums & town homes are permitted.

Eligible Cities/Areas:  County of Orange unincorporated areas (not yet incorporated into a city) and the cities of Brea, Cypress, Dana Point, La Palma, Laguna Beach, Laguna Hills, Laguna Woods, Los Alamitos, Placentia, Seal Beach, Stanton, Villa Park and Yorba Linda.

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