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City of Redding Silent Second Mortgage Homebuyer Program

Redding, California

Last verified
See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$231,088

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is City of Redding Silent Second Mortgage Homebuyer Program?

City of Redding Silent Second Mortgage Homebuyer Program is a deferred second loan for homebuyers in Redding, California.

  • Silent second mortgage bridging gap between purchase price, primary loan, and down payment. No monthly payments required. Purchase must be within Redding City Limits. Income eligible families/individuals.
  • no monthly payments on DPA.
  • Funding comes from Federal HOME / City.

Do you have to pay it back?

City of Redding Silent Second Mortgage Homebuyer 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, transfer, or non-occupancy.
  • 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.

Who qualifies?

City of Redding Silent Second Mortgage Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Contact lender for current credit score requirements
  • A completed homebuyer education course
  • Residency: Purchase within City of Redding
  • Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen
  • Must purchase in Redding; income ≤80% AMI; tiered assistance $10K (61-80% AMI) to $60K (≤50% AMI); max purchase price $231,088; deferred silent second mortgage

The program excludes

  • Manufactured homes
  • Purchases above the $231,088 price cap
  • Households above 80% of area median income

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?

City of Redding Silent Second Mortgage Homebuyer Program 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.

What kind of home can it be used for?

City of Redding Silent Second Mortgage Homebuyer Program caps the purchase price at $231,088.

  • Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

City of Redding Silent Second Mortgage Homebuyer Program serves buyers purchasing in Redding, California.

How do you apply?

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

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved through Contact provider directly; subject to funding availability, 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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