City of Menifee Homebuyer Assistance Program

City of Menifee Homebuyer Assistance Program is a deferred second loan for homebuyers in Menifee, California. Deferred-payment loan. PLHA-funded variant administered through NPHS. Maximum sales price varies by property type. Up to $100,000 deferred-payment loan for down payment or closing costs. Income-qualified first-time homebuyers purchasing within City of Menifee (Riverside County). Funding comes from Permanent Local Housing Allocation (PLHA), HCD.

City of Menifee Homebuyer 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.

City of Menifee Homebuyer Assistance Program 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. A homebuyer education course is required, through Required - HUD-approved through NPHS. Sourced via Homebuyer Wallet (CA260114). Must be first-time homebuyer. Annual household income at or below 80% of Riverside County AMI. Maximum sales prices: SFR $551,000; Townhome/condo $494,000; New manufactured-on-permanent $322,500.

City of Menifee Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. 80% Riverside County AMI: HH1 $57,400 to HH8 $108,250 (varies by HCD annual schedule). 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.

City of Menifee Homebuyer Assistance Program caps the purchase price at $551,000. Eligible property types include Single-family, Condo, Townhouse, Manufactured (real property, new on permanent foundation). Manufactured homes are eligible.

City of Menifee Homebuyer Assistance Program serves homebuyers purchasing in Menifee, California.

Applications for City of Menifee Homebuyer Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. 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.