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Los Angeles First Time Home Buyer Programs List 2017

LA 1st time home buyer programs 2017

  • Listed are the 2017 first time home buyer programs that our lenders are working with in CALIFORNIA.  2017 FIRST-TIME HOME BUYER DOWN-PAYMENT ASSISTANCE FUNDS ARE GENERALLY FIRST COME-FIRST SERVED AND ARE NOT GUARANTEED. Please check with your local lender at all times to see if funds are still available and for guideline, income limit and debt ratio changes, or call us at 310-508-4354 and we will put you in touch with one.
    FHA - 1st and 2nd time home buyer program in 2017  2nd time home buyer
     Allows buyer to with a 3.5% down payment
     No restrictions on the areas borrowers can purchase (California)
     Maximum purchase limits depending on county
     No home-buyer class required
     Primary residence 
     Higher income allowed 
    CalHFA 1 buyer program 2017 
    Loan (Conventional & FHA options available)
    Bond loan that can assist with an extra money down payment or closing costs.
    No restrictions on the areas borrowers can purchase (California only).
    Allows buyer to come in with a 1% down payment on the 1st loan.
    CalHFA Extra Credit Teachers Program (ECTP)
     Program is for teachers, administrators, school district employees and staff members working for any California K-12 public school.
     $7,500 ($15,000 in High Cost Areas) or 3% of the purchase price, whichever is less.
     Silent Loan (no payments are made during the first 30 years).
     No restrictions on the areas borrowers can purchase (California only).
    CalHFA MYHOME 2017 down payment program or closing cost assistance
    2nd position loan that can be used for down payment or closing costs.
    5% of the purchase price.
    Silent Loan (no payments are made during the first 30 years).
    No restrictions on the areas borrowers can purchase (California only).
    Allows buyer to come in with a 1% down payment on the 1st loan.
    CalHFA MCC 2017
    Dollar for dollar tax credit on the interest paid on the home.
    Help buyers qualify for a higher purchase price using a 20% tax credit.
    CalHFA EEM Grant (Program is to be used with an FHA Energy Efficient Mortgage)
     Program is to be used with an FHA Energy Efficient Mortgage.
     4% of the loan amount that can be used above what the maximum allowed for a regular EEM Mortgage.
     Grant Program, funds do not have to be paid back.
     No restrictions on the areas borrowers can purchase (California only). 
    CHF Sapphire - 1st and 2nd time home buyer program in 2017  2nd time buyer ribbon
     Loan program that combines with a 3.5% grant (does not have to be paid back).
     No restrictions on the areas borrowers can purchase (California Only).
     Buyer only needs to come in with 3.5% down in most cases
     No co-signers
     No homebuyer class required
     No pre-payment penalty
    City of Chino
     Up to $60,000 in down payment assistance.
     Silent Loan for low income families.
     Available for any single family, condos, and townhomes in the City of Chino

    City of Claremont Inclusionary Program
     Covers the difference between the purchase price and affordable price of the home  
     Borrower must contribute 5% of the purchase price, a portion may be from a gift.
     For Moderate Income households, money is forgiven if living in the home for 45 years.  
    City of Los Angeles LIPA - First time home buyer program in 2017  
  • Up to $60,000 in down payment assistance for Low Income Families.
    Silent Loan for low income families.
    Available for any home within the incorporated City of Los Angeles.
    Funds can also be used for closing costs.
     Homebuyer class is required
     Must not be tenant-occupied
     Short sales, foreclosures, REO properties allowed
     City inspection required 
      Lead Based assessment inspection required
    City of Los Angeles MCC
    Dollar for dollar tax credit on the interest paid on the home.
    Help buyers qualify for a higher purchase price.
    City of Los Angeles RNLA 
     Up to $60,000 in down payment assistance for Low or Moderate Income Families. 
     Available only for homes offered by RNLA. 
     Funds can also be used for closing costs.

    City of Ontario
    Up to $60,000 in down payment assistance.
    Silent Loan for low income families.
    Available for any single family, condo’s, and townhomes within a specific area of Ontario.

    City of Pomona MAP
    Up to $60,000 in down payment assistance.
    Silent Loan for low income families.
    Available for any home in the City of Pomona.
    Buyer only needs to pay pre-paids (usually $1,500 to $3,000).
    City of Rialto
    Up to $27,000 in assistance.
    Silent loan for low income borrowers.
    Buyer needs to come in with 3% of own funds.
    County of Los Angeles HOP 
    Up to $60,000 in assistance.
    Eligible for certain cities and all of the unincorporated areas of Los Angeles County.
    Silent Loan for low income borrowers.
    Buyer only required to come in with 1% down in most cases.
     APPROVED short sales allowed
     Must pass city inspection 
    County of Los Angeles MCC
    Dollar for dollar tax credit on the interest paid on the home.
    Helps buyers qualify for a higher purchase price.
    County of Orange MCC
    Dollar for dollar tax credit on the interest paid on the home.
    Helps buyers qualify for a higher purchase price.
    County of Riverside
    2 programs with the county (one is for foreclosed homes and the other regular sales).
    The money is forgiven after 15 years, restrictions apply.
    Only need to come in with 1% or less of their own funds in most cases.
  • County of Riverside MCC
    Dollar for dollar tax credit on the interest paid on the home.
    Helps buyers qualify for a higher purchase price.
    Montebello Housing Development Corporation
    Up to $55,000 for down payment assistance.
    Can be used anywhere within LA County Areas.

    NHSIE Achieve Grant
     Up to $15,000 Grant that can be used for additional down payment of closing costs.
     Home must be located in Riverside or San Bernardino County.
     For Moderate or Low income families, grant is forgiven after 3 years.
    Opportunity Down Payment Loan assistance in 2017
     Up to $20,000 for down payment assistance or closing costs.
     Can be used anywhere within Los Angeles, Riverside, and San Bernardino County.
     15 year loan with moderate income limits at 3% simple interest.
    WISH (Currently only for LA and Orange Counties)
    Up to $15,000 for down payment of closing costs.
    Grant that is forgiven after 5 years.
    It is a 3 to 1 matching program borrower needs to contribute $5,000 to receive $15,000.

    GET QUALIFIED

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