Placer County First-Time Homebuyer Loan Program

Placer County First-Time Homebuyer Loan Program is a deferred second loan for homebuyers in Placer County, California. Up to $100,000 down payment assistance loan at 3% interest, 30-year term for first-time homebuyers in Placer County (unincorporated). Eligible for households up to 150% AMI ($181,200 for family of 4). Min 1% buyer down payment. $2.6M total available. Up to $100,000 in assistance. no monthly payments on DPA. Funding comes from State / Federal.

Placer County First-Time Homebuyer Loan Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, transfer, or non-occupancy. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Placer County First-Time Homebuyer Loan Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required. Residency requirement: Purchase in unincorporated Placer County. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Available in Placer County unincorporated areas and most cities. 30-year deferred silent second. Must attend HUD-approved homebuyer education course.

Placer County First-Time Homebuyer Loan Program limits household income to 150% of the area median income, which varies by county and household size. Workforce/moderate income: household income ≤150% 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.

Placer County First-Time Homebuyer Loan Program caps the purchase price at $750,000. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

Placer County First-Time Homebuyer Loan Program serves homebuyers purchasing in Placer County, California.

Applications for Placer County First-Time Homebuyer Loan 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.