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Citibank, N.A. HomeRun Mortgage

Statewide, California

Last verified
See what you qualify for
Repayment

Grant

Not repaid

What is Citibank, N.A. HomeRun Mortgage?

Citibank, N.A. HomeRun Mortgage is a grant for homebuyers in Statewide, California.

  • 3% down payment mortgage with no PMI. DTI up to 43%. Considers gift funds and DPA from local/state programs.
  • Low down payment 3% mortgage with no PMI.
  • up to $7,500 closing cost assistance in select MSAs. Flexible credit underwriting for LMI borrowers.
  • Funding comes from Citibank, N.A.

Do you have to pay it back?

Citibank, N.A. HomeRun Mortgage is structured as a grant, so it is not repaid.

  • Repayment is triggered by per first mortgage terms.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Citibank, N.A. HomeRun Mortgage is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved homebuyer education
  • Sourced via Homebuyer Wallet (MULTI250074). Income at or below 80% AMI (rising to 120% AMI in some markets). $1% borrower personal contribution required. Closing-cost grant available in markets with Citi branches plus select census tracts in Atlanta, Austin, Cambridge, Dallas, Denver, Houston, Philadelphia.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Citibank, N.A. HomeRun Mortgage sets its income limit as follows: At or below 80% of area median income (HomeRun); up to 120% AMI in expanded markets.

  • At or below 80% of area median income (HomeRun); up to 120% AMI in expanded markets.
  • 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?

Citibank, N.A. HomeRun Mortgage can be used for Single-family, Condo, Townhouse.

Where does it apply?

Citibank, N.A. HomeRun Mortgage serves buyers purchasing in Statewide, California.

How do you apply?

Applications for Citibank, N.A. HomeRun Mortgage go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved homebuyer education.

  2. Contact the administering agency to reserve funds

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

  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.

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