HomeFundIt Crowdfunding Down Payment Platform - California

What is HomeFundIt Crowdfunding Down Payment Platform - California?

HomeFundIt Crowdfunding Down Payment Platform - California is a grant for homebuyers in California.

• Only Fannie Mae/Freddie Mac approved crowdfunding platform for down payment. First-time buyers who complete homebuyer education get a $2-to-$1 match on gifts received up to $2,000 (or 1% of purchase price). No income restrictions. Available statewide CA.
• Up to $2,000 in assistance.
• Funding comes from Private/Crowdfunding.

Do you have to pay it back?

HomeFundIt Crowdfunding Down Payment Platform - California is structured as a grant, so it is not repaid.

• Repayment is triggered by None (grant match).
• The assistance is recorded in N/A (grant after vesting) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HomeFundIt Crowdfunding Down Payment Platform - California is open to buyers who will live in the home as their primary residence.

What are the income limits?

HomeFundIt Crowdfunding Down Payment Platform - California sets its income limit as follows: Contact program provider for current income limits.

• 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?

HomeFundIt Crowdfunding Down Payment Platform - California caps the purchase price as follows: Contact program for current purchase price limits.

• Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

HomeFundIt Crowdfunding Down Payment Platform - California serves buyers purchasing anywhere in California.

How do you apply?

Applications for HomeFundIt Crowdfunding Down Payment Platform - California 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 before funds are reserved.

2. 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. 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.