Cal Home Program offers up to $38,000 in a “silent” down payment assistance loan for low-income households purchasing in Contra Costa. This loan is secured by a Deed of Trust on the property and requires no monthly payments.
Cal Home LOAN PROGRAM REQUIREMENTS
- Applicant must be a first-time homebuyer
- Applicant must complete HUD approved 8-hour homebuyer education class.
- Applicant’s annual household income may not exceed the current program limits (See Table 1)
- Income of all household members age 18 years and over is included (See Table 1)
- Property must be in Contra Costa
- Property must be a single-family dwelling including condos, townhouses, live-work units, and manufactured housing
- Property must be vacant or owner occupied, no tenants may be displaced
- Property must be primary residence
- First mortgage loan must be 30-year fixed with taxes and insurance impounded
Fiscal Year 2022 Income Limits for Contra Costa:
Number in Household / Maximum Annual Income
1 / $76,750
2 / $87,700
3 / $98,650
4 / $109,600
5 / $118,400
6 / $127,150
7 / $135,950
8 / $144,700
Community Housing Development Corporation (CHDC) is proud to be part of the Neighborhood LIFT program in collaboration with Wells Fargo and NeighborWorks® America. Neighborhood LIFT provides eligible homebuyers with $25,000 in down payment assistance on qualified properties. For more information about the Neighborhood LIFT program: https://communityhdc.org/lift/
CHDC works with a number of banks to assist homebuyers in applying for WISH grant funds. .
Workforce Initiative Subsidy for Homeownership (WISH)
- Provides matching grants to qualified first-time homebuyers
- 4:1 match on homebuyer contribution up to $22,000
- Participant is a first-time homebuyer according to Federal Home Loan Bank definition
- Restricted to households at or below 80% AMI (Area Median Income)
- Must complete a homebuyer counseling program provided by an experienced organization
- 5-year retention period
Call us for more information.