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Flagstar - Flagstar Gift Program

Statewide, California

Last verified
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Assistance

0.03%

Of the purchase price, as the program sets it

Repayment

Grant

Not repaid

What is Flagstar - Flagstar Gift Program?

Flagstar - Flagstar Gift Program is a grant for homebuyers in Statewide, California.

  • Grant program; no repayment. $3,500 per transaction in most eligible areas; up to $7,500 in AZ, CA, NJ, NY.
  • Up to 3% of the purchase price (capped at $3,500 per transaction in most areas, $7,500 in AZ/CA/NJ/NY) provided as Grant for down payment and closing costs. Multi-state availability through Flagstar Bank.
  • Funding comes from Flagstar Bank.

How much assistance does it provide?

Flagstar - Flagstar Gift Program provides assistance worth 0.03% of the purchase price, as set by the program.

  • The program asks buyers to contribute $1,000 from personal funds.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Flagstar - Flagstar Gift Program is structured as a grant, so it is not repaid.

  • Repayment is triggered by none (grant).
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Flagstar - Flagstar Gift 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 - homebuyer training
  • Sourced via Homebuyer Wallet (US20250002). Must be first-time homebuyer. $1,000 borrower contribution required from personal funds. Available in: AZ, CA, CT, FL, IN, MI, NJ, NY, NC, OH, WI.

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?

Flagstar - Flagstar Gift Program sets its income limit as follows: Per program guidelines (varies by area).

  • 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?

Flagstar - Flagstar Gift Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Flagstar - Flagstar Gift Program serves buyers purchasing in Statewide, California.

How do you apply?

Applications for Flagstar - Flagstar Gift Program go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - homebuyer training.

  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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