Redwood Credit Union Community Fund Down Payment Assistance

What is Redwood Credit Union Community Fund Down Payment Assistance?

Redwood Credit Union Community Fund Down Payment Assistance is a grant for homebuyers in California.

• Forgivable grants up to 5% of home price or $25,000 (whichever is less) for first-time homebuyers. Launched March 2025. Covers Napa, Marin, Mendocino, Solano, and Sonoma counties. Has helped 13+ families since launch.
• Up to $25,000 in assistance.
• non-repayable grant.
• Funding comes from Credit Union Community Fund.

How much assistance does it provide?

Redwood Credit Union Community Fund Down Payment Assistance provides assistance worth 5% of the purchase price, as set by the program.

• The program asks buyers to contribute 1% of purchase price (borrower minimum).
• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Redwood Credit Union Community Fund Down Payment Assistance is structured as a grant, so it is not repaid.

• Repayment is triggered by None (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?

Redwood Credit Union Community Fund Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Redwood Credit Union Community Fund Down Payment Assistance 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?

Redwood Credit Union Community Fund Down Payment Assistance 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?

Redwood Credit Union Community Fund Down Payment Assistance serves buyers purchasing anywhere in California.

How do you apply?

Applications for Redwood Credit Union Community Fund Down Payment Assistance 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.