Downpayment Assistance Programs

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

 

City of Los Angeles (LIPA) – $161,000

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.

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 $161,000 for down payment, closing costs, and acquisition.


Home purchase price limit–
1) Single Family Homes: $1,081,100 2) Condominiums & Townhomes: $679,250

 

City of Los Angeles (MIPA) – Limited Funds- $90,000 – 115,000

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.

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 $115,000 for down payment, closing costs, and acquisition. Up to $115,000 will be available for homebuyers earning between 81-120% Area Median Income (AMI) and up to $90,000 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 – $85,000

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 –  $700,000

 

MAP

This program provides a $85,000 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.

 

Calhome Programs – $100,000

Receive up to $100,000 toward your down payment for a home located in the County of LA, OC, San Bernardino and Riverside. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% of the Area Median Income.

 

Dream for All Program

Dream for All provides a loan for 20% of the home purchase price. The homeowner pays back the original loan amount plus 20% of any appreciation in the value of the home. Can be used anywhere in California.

 

City of Yorba Linda

Receive up to $50,000 towards your down payment for a home in the City of Yorba Linda.

 

City of Garden Grove City of Garden Grove Program Flyer

 

Up to $110,000 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 Garden Grove.

 

WISH WISH Program Flyer – Los Angeles WISH Program Flyer – Orange County

Up to $29,172 in down payment funds provided at a 4:1 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.

 

Greenline Home Program  Greenline Home Program Flyer

Up to $35,000 in grant funds for down payment or closing cost assistance towards the purchase of a home. For first-time homebuyers living in LA County. Residents with low to moderate income. Residents living in high to highest need income. Must occupy home for 3 years. Maximum Price Limit $750,000.

 

Santa Ana – My First Home Program Santa Ana – My First Home Program Flyer

FUNDS ARE LIMITED- First Come, First Serve. Program offers 0%, deferred payment loans of up to $120,000 for Low-Income Households and up to $80,000 to Moderate-income households. The Housing Division has a local preference for veterans and applicants who live and work in the City of Santa Ana. Must income qualify (see flyer for income chart). Minimum of 3% down-payment.

 

 

Pulling Credit – Credit Bureaus

 

2023 County Downpayment Income Limit