First Time Home Buyer Program (FTHB)

What is First Time Home Buyer Program (FTHB)?

First Time Home Buyer Program (FTHB) is a deferred second loan for homebuyers in Huntington Park, California.

• First-time homebuyer down payment assistance program serving Huntington Park and Los Angeles County, California.
• Up to $85,000 silent second / deferred-payment loan for first-time homebuyers purchasing in the City of Huntington Park, CA. 0% interest, 30-year deferred (no monthly payments). Loan due in full upon sale, transfer, refinance, or when borrower no longer occupies property as primary residence. Funded with HUD HOME Investment Partnerships Program funds (City of Huntington Park is a CDBG entitlement community in LA County). 80% AMI cap (Los Angeles-Long Beach-Glendale HMFA). Max purchase price $570,000.
• Funding comes from Federal HOME and Federal CDBG.

Do you have to pay it back?

First Time Home Buyer Program (FTHB) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Deferred 30-year balloon. Loan due in full upon sale, transfer, refinance, or when borrower no longer occupies property as primary residence. Not forgivable.
• The assistance is recorded in 2 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

First Time Home Buyer Program (FTHB) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

First Time Home Buyer Program (FTHB) limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI Los Angeles-Long Beach-Glendale HMFA per HUD. Approximate 2025: $70,650 (1-person) to $133,200 (8-person).
• 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 Time Home Buyer Program (FTHB) caps the purchase price at $570,000.

• Eligible property types include Single-family detached, Townhome, and Condominium.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

First Time Home Buyer Program (FTHB) serves buyers purchasing in Huntington Park, California.

How do you apply?

Applications for First Time Home Buyer Program (FTHB) 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 HUD-approved housing counseling agencies (NID Housing, Korean Churches for Community Development, Neighborhood Housing Services of Los Angeles County)..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application to City of Huntington Park Community Development Department. First-come, first-served subject to HOME/CDBG funding cycle., 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.