ReCoverCA Homebuyer Assistance Program (DR-HBA)

ReCoverCA Homebuyer Assistance Program (DR-HBA) is a forgivable loan for homebuyers in California. Forgivable loan up to $300,000 for households displaced by California fire/flood disasters (2017, 2018, 2020, 2023, 2024 declared disasters). Funded by CDBG-DR. Forgiven after 5 years of owner-occupancy. Program launched Nov 10, 2025 with flood priority for first 30 days. Up to $300,000 in assistance. loan forgiven after required occupancy. Funding comes from Federal CDBG-DR (HUD).

ReCoverCA Homebuyer Assistance Program (DR-HBA) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or loss of occupancy before 5 years. 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.

ReCoverCA Homebuyer Assistance Program (DR-HBA) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 640 FICO score required for all borrowers. A homebuyer education course is required. Residency requirement: Primary residence; must have been displaced by declared CA disaster. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Available to survivors of declared disasters (wildfires up to $350K, floods up to $300K). 80% AMI income limit. 5-year forgivable loan. Must have been displaced or had home destroyed in federally-declared disaster. California-specific program.

ReCoverCA Homebuyer Assistance Program (DR-HBA) limits household income to 120% of the area median income, which varies by county and household size. Low to moderate income: household income ≤120% 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.

ReCoverCA Homebuyer Assistance Program (DR-HBA) 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.

ReCoverCA Homebuyer Assistance Program (DR-HBA) serves homebuyers purchasing anywhere in California.

Applications for ReCoverCA Homebuyer Assistance Program (DR-HBA) 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.