Downpayment Assistance Programs

These programs may change or become unavailable at any time without notice. Additional restrictions & requirements apply.

 

City of Los Angeles (LIPA)-$90,000

The Low Income Purchase Assistance Program helps first-time, low-income homebuyers purchase homes by providing loans to cover the down payment, acquisition, and closing costs.

Eligibilities-  1) First-time homebuyers who have not had an ownership interest in any real property at any time during the last three years. 2) U.S. Citizens, lawful permanent residents, or other qualified aliens. 3) Applicants whose total household income of all of the adults, 18 years of age or older who will be living in the home, is at or below the income limits shown on the table below

2018 Income Limits
Number of persons in household 1 2 3 4 5 6 7 8
Combined income limit $54,250 $62,000 $69,750 $77,500 $83,700 $89,900 $96,100 $102,300

 

Other Program Requirements – 1) Applicants must attend an 8-hour, in-person Homebuyer Education Class given by one of our approved providers. 2) Applicants must contribute a minimum of 1% of the home price from their own funds as down payment. Some homebuyers may be required to contribute more than 1% toward the down payment. 3) Homebuyers must occupy the home as their principal residence 4) If eligible, applicants who apply for this program may also be required to apply for the Mortgage Credit Certificate Program (MCC).

Loan Amount–  Loan of up to $90,000 for down payment, closing costs, and acquisition.

Home purchase price limit– 1) Single Family Homes: $522,500      2) Condominiums & Townhomes: $457,900

 

City of Los Angeles (MIPA)- Limited Fund-$35,000 – $60,000 (This program is currently out of funds)

The Moderate Income Purchase Assistance Program helps first-time, moderate income homebuyers purchase homes by providing loans to cover the down payment, acquisition, and closing costs.

Eligibilities- 1)First-time homebuyers who have not had an ownership interest in any real property at any time during the last three years. 2) U.S. Citizens, lawful permanent residents, or other qualified aliens. 3)Applicants whose total household income of all of the adults, 18 years of age or older who will be living in the home, is at or below the income limits shown on the table below

2018 Income Limits
Number of persons in household 1 2 3 4 5 6 7 8
Combined income limit up to 120% Area Median Income $54,251-

$81,400

$62,001-

$93,000

$69,751-

$104,650

$77,501-

$116,300

$83,701-

$125,600

$89,901-

$134,900

$96,101-

$144,200

$102,301-

$153,500

Combined income limit up to 150% Area Median Income $81,401-

$101,750

$93,001-

$116,300

$104,651-

$130,800

$116,301-

$145,350

$125,601-

$157,000

$134,901-

$168,600

$144,201-

$180,250

$153,501-

$191,850

Other Program Requirements– 1) Applicants must attend an 8-hour, in-person Homebuyer Education Class given by one of our approved providers. 2) Applicants must contribute a minimum of 1% of the home price from their own funds as down payment. Some homebuyers may be required to contribute more than 1% toward the down payment. 3)Homebuyers must occupy the home as their principal residence. 4) If eligible, applicants who apply for this program may also be required to apply for the Mortgage Credit Certificate Program (MCC).

Loan Amount–  Loan of up to $60,000 for down payment, closing costs, and acquisition.  Up to $60,000 will be available for homebuyers earning between 81-120% Area Median Income (AMI) and up to $35,000 will be available for homebuyers earning between 121%-150% AMI.

Loan terms– 1)Deferred, requiring no monthly payments. 2) Loans have a Shared Appreciation component in which the City will share a certain percentage of the appreciation in the value of the property. 3) Repayment is due on sale, title transfer, first mortgage repayment, or in 30 years. 4) Refinancing of first mortgage is allowed under certain conditions.

 

LA County HOP Program-$75,000

The program is administered by the Los Angeles County Community Development Commission (CDC) and the Public Finance Division of the County of Orange. SCHFA does not lend money directly to homebuyers. Homebuyers must work directly with a participating lender.

Program Details- 1) First-Time Homebuyer Requirement:A first-time homebuyer is a person(s) who has not owned and occupied their own home in the last three years unless you are buying a home in an IRS Designated Targeted Area Census Tract. If you have owned a home and sold the home more than three years ago, you are considered a first time homebuyer. 2) Eligible Areas in Los Angeles County:All unincorporated areas and incorporated cities in Los Angeles County, except the City of Los Angeles areas.
3) Eligible Areas in Orange County:All unincorporated areas and incorporated cities in Orange County.

Income and Purchase Price Limits- MAXIMUM LOAN AMOUNT – $453,100

 

 

City of Chula Vista

Receive up to $70,000 toward your down payment for a home located in the City of Chula Vista. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% of the Area Median Income.

 

City of National City (FTHB)

Up to $70,000 in gap financing is available for the purchase of a home in National City, California. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% of the Area Median Income.

 

City of Riverside

Up to $50,000 towards your down payment for a home in Riverside. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% AMI and purchase in the City of Riverside.

 

City & County of San Diego

Receive up to $70,000 towards your down payment for a home in the City or County of San Diego. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% AMI for the County of San Diego and up to 100% AMI for the City of San Diego.

 

City of San Marcos

Up to $56,000 towards your down payment for a home in San Marcos. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% AMI and purchase in the City of San Marcos.

 

 

WISH

Up to $15,000 in down payment funds provided at a 3:1 match and FULLY FORGIVEN after 5 years. Must earn no more than 80% of the Area Median Income. Available anywhere in the state of California.

 

IDEA

This is for families and individuals who are interested in 2018 IDEA savings. This is a 3 to 1 match saving program that can assist in your goal of homeownership.

 

MAP

This program provides a $40,000 silent second (deferred payment) down payment assistance loan to low-income first time home buyers purchasing in participating cities and unincorporated areas of Orange County.