First Bank Thrive Mortgage Loan

What is First Bank Thrive Mortgage Loan?

First Bank Thrive Mortgage Loan is a grant for homebuyers in Statewide, California.

• Special Purpose Credit Program by First Bank. 100% LTV, no PMI, $4,000 lender credit for closing.
• Up to 100% LTV with NO PMI. $4,000 lender credit for closing costs. Targeted to low- to moderate-income borrowers in select census tracts.

Do you have to pay it back?

First Bank Thrive Mortgage Loan is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

First Bank Thrive Mortgage Loan is open to buyers who will live in the home as their primary residence.

What are the income limits?

First Bank Thrive Mortgage Loan sets its income limit as follows: Per program guidelines (LMI tracts).

• 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?

First Bank Thrive Mortgage Loan can be used for Single-family, Condo, Townhouse.

Where does it apply?

First Bank Thrive Mortgage Loan serves buyers purchasing in Statewide, California.

• The program targets specific areas: Eligible LMI/SPCP census tracts in First Bank footprint.

How do you apply?

Applications for First Bank Thrive Mortgage Loan go through the administering agency.

1. 1

   Take a homebuyer education course

   Required by the program, through Required - HUD-approved homebuyer counseling.

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.