City of Fresno Forgivable Deferred Payment Loan

City of Fresno Forgivable Deferred Payment Loan is a forgivable loan for homebuyers in Fresno, California. 15-year forgivable deferred payment loan up to $100,000 at 0% interest for low-income families purchasing within Fresno city limits. Forgiven if buyer stays in home 15 years. Financial assistance for down payment and closing costs. Up to $100,000 in assistance. loan forgiven after required occupancy. Funding comes from Federal CDBG / HOME.

City of Fresno Forgivable Deferred Payment Loan is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or non-occupancy before 15 years. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Fresno Forgivable Deferred Payment Loan is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required. Residency requirement: Purchase within City of Fresno. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. 5-year forgivable loan. Must purchase within City of Fresno limits. Income at or below 80% AMI. Must be first-time homebuyer (no ownership in past 3 years).

City of Fresno Forgivable Deferred Payment Loan limits household income to 80% of the area median income, which varies by county and household size. Low income: household income ≤80% of Area Median Income (AMI). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Fresno Forgivable Deferred Payment Loan caps the purchase price at $500,000. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

City of Fresno Forgivable Deferred Payment Loan serves homebuyers purchasing in Fresno, California.

Applications for City of Fresno Forgivable Deferred Payment Loan go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.