City of Menifee Homebuyer Assistance Program

What is 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.

Do you have to pay it back?

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.

Who qualifies?

City of Menifee Homebuyer 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?

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.

What kind of home can it be used for?

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.

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Required - HUD-approved through NPHS.

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.