loanDepot Grand Slam Grant Program

loanDepot Grand Slam Grant Program is a grant for homebuyers in California. loanDepot Grand Slam grant up to $5,000 for down payment or closing costs for low-to-moderate income homebuyers in California. True grant — no repayment required. Up to $5,000 in assistance. non-repayable grant. Funding comes from Lender.

loanDepot Grand Slam Grant Program is structured as a grant, so it is not repaid. Repayment is triggered by N/A (non-repayable grant). The assistance is recorded in N/A (grant - no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

loanDepot Grand Slam Grant Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 580 FICO score required for all borrowers. Residency requirement: Must occupy as primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

loanDepot Grand Slam Grant Program limits household income to 80% of the area median income, which varies by county and household size. Low income: household income ≤80% of Area Median Income (AMI). 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.

loanDepot Grand Slam Grant Program caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

loanDepot Grand Slam Grant Program serves homebuyers purchasing anywhere in California.

Applications for loanDepot Grand Slam Grant Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.