Burbank Housing Homeowner Down Payment Assistance Program

What is Burbank Housing Homeowner Down Payment Assistance Program?

Burbank Housing Homeowner Down Payment Assistance Program is a deferred second loan for homebuyers in Multi-County, California.

• CalHome-funded deferred loan. Deferred payment, low-interest. Burbank Housing administers in Sonoma County.
• Up to $200,000 (or 40% of purchase price) CalHome down payment assistance for low/moderate-income first-time homebuyers. Sonoma County (and select disaster-displaced households).
• Funding comes from California HCD CalHome Program.

How much assistance does it provide?

Burbank Housing Homeowner Down Payment Assistance Program provides assistance worth 0.4% of the purchase price, as set by the program.

• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Burbank Housing Homeowner Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by sale, refinance, or change of primary residence.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Burbank Housing Homeowner Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Burbank Housing Homeowner Down Payment Assistance Program limits household income to 1% of the area median income, which varies by county and household size.

• Low- to moderate-income per California HCD CalHome (up to 120% AMI for disaster-displaced).
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Burbank Housing Homeowner Down Payment Assistance Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Burbank Housing Homeowner Down Payment Assistance Program serves buyers purchasing in Multi-County, California.

How do you apply?

Applications for Burbank Housing Homeowner Down Payment Assistance Program go through the administering agency.

1. 1

   Take a homebuyer education course

   Required by the program, through Required - HUD-approved (Burbank Housing or partner).

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.