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City of Rosemead Community Development Homeownership Assistance Program

Rosemead, California

Last verified
See what you qualify forOfficial program site →
Assistance

$200,000

The maximum the program publishes — not an offer

Price cap

$916,750

Highest purchase price the program allows

Repayment

Shared appreciation

Settled on the terms set by the administering agency

What is City of Rosemead Community Development Homeownership Assistance Program?

City of Rosemead Community Development Homeownership Assistance Program is a shared-appreciation loan for homebuyers in Rosemead, California.

  • 0% interest, no monthly payment shared-appreciation loan. Loan amount varies by qualified applicant.
  • Up to $200,000 for down payment, closing costs, and interest-rate buy-downs. 0% interest, no monthly payment, share of appreciation at sale.
  • Funding comes from PLHA, City Housing Funds.

How much assistance does it provide?

City of Rosemead Community Development Homeownership Assistance Program offers up to $200,000 in assistance.

  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

City of Rosemead Community Development Homeownership Assistance Program is a shared-appreciation loan and is repaid under the terms set by the administering agency.

  • Repayment is triggered by sale or refinance (share of appreciation).
  • 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 Rosemead Community Development Homeownership Assistance 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
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (CA20250065). Family income at or below 80% LA County AMI. Cannot currently own residential property. Maximum purchase price: $916,750 SFR / $701,100 townhome/condo.

The program excludes

  • Purchases above the $916,750 price cap

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 Rosemead Community Development Homeownership Assistance Program sets its income limit as follows: At or below 80% of LA County AMI.

  • At or below 80% of LA County AMI.
  • 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 Rosemead Community Development Homeownership Assistance Program caps the purchase price at $916,750.

  • Eligible property types include Single-family, Condo, Townhouse.

Where does it apply?

City of Rosemead Community Development Homeownership Assistance Program serves buyers purchasing in Rosemead, California.

How do you apply?

Applications for City of Rosemead Community Development Homeownership Assistance 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, through Required - HUD-approved.

  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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