1st Time Homebuyer & Down Payment Assistance Programs: Your Path to Homeownership
Are you ready to embark on the exciting journey of homeownership? Regardless of where you are in your homebuying journey, our goal is to provide financial education and guide you towards the resources available. Explore 1st Time Homebuyer & Down Payment Assistance programs for you. Let’s discover the pathways to homeownership together!
Martis Fund: Opening Doors to Homeownership
Martis Fund offers up to 10% or $100,000 in down payment assistance as a loan. The loan is deferred and becomes due and payable at the time of sale or after 30 years. With a fixed rate of 3% compounded annually or a profit share split of the home’s appreciation at sale, Martis Fund helps make homeownership more attainable. Eligibility requires a buyer’s household income to be within 180% of the Placer County median income. Discover more about Martis Fund’s contribution to your homeownership dreams.
Truckee HAP – Home Access Program: Bridging the Down Payment Gap
Truckee HAP offers up to $150,000 or 16% down payment assistance as a grant, eliminating the need for repayment. Enjoy the flexibility to utilize the payment for down payment assistance, renovations, or other expenses related to your new home. With no minimum buyer contribution required, Truckee HAP makes homeownership more accessible. Learn about the program’s unique requirements, including geographical boundaries, income limits, and deed restrictions.
Placer Workforce Housing Preservation Program: Investing in the Future
The Placer Workforce Housing Preservation Program provides up to $150,000 or 16% down payment assistance as a grant, ensuring affordability for qualified homebuyers. The program aims to preserve workforce housing by requiring the sale of the house to a household that meets local worker criteria. Discover how this program combines with the Martis Fund and learn about the eligibility criteria, including down payment requirements and income limits.
CalHFA – CalPLUS Conventional Program: Support for First-Time Homebuyers
CalHFA’s CalPLUS Conventional Program offers valuable assistance to first-time homebuyers. Occupying the property as a primary residence, completing homebuyer education counseling, and meeting income limits are key requirements for this program. Explore the property requirements and eligibility criteria to determine if CalHFA can be your partner in achieving homeownership.
Home Means Nevada Rural Down Payment Assistance: Empowering Rural Homebuyers
Designed for rural homebuyers, Home Means Nevada Rural Down Payment Assistance provides $15,000 in forgivable down payment assistance. This program supports those with a minimum 6-month Nevada residency, helping them overcome financial barriers on their path to homeownership. Learn more about the income limit and eligibility requirements to seize this opportunity.
Buy Today Scenario: Secure Your Future with Homeownership
Imagine finding the perfect home that you’ll cherish for 10+ years. Combine it with a 30-year fixed-rate, prepayable loan, and you’ll enjoy numerous benefits. This scenario offers a good chance of positive equity by year 10, locking in the monthly cost of shelter for life, the ability to refinance when rates drop, and protection against rising inflation, home prices, interest rates, and rents. Explore the emotional