loanDepot Grand Slam Grant Program

What is 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.

Do you have to pay it back?

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.

Who qualifies?

loanDepot Grand Slam Grant Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

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

How do you apply?

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.

1. 1

   Contact the administering agency to reserve funds

   Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

2. 2

   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.