Riverside County ARPA First-Time Homebuyer Program (5th District)

Riverside County ARPA First-Time Homebuyer Program (5th District) is a forgivable loan for homebuyers in Riverside County, California. ARPA-funded silent second loan up to 20% of purchase price (max $100,000) for first-time homebuyers in Riverside County 5th Supervisorial District. Forgiven after 15 years. Income up to 120% AMI. Also includes closing cost assistance. Up to $100,000 in assistance. loan forgiven after required occupancy. Funding comes from Federal ARPA.

Riverside County ARPA First-Time Homebuyer Program (5th District) provides assistance worth 20% of the purchase price, as set by the program. The program asks homebuyers 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.

Riverside County ARPA First-Time Homebuyer Program (5th District) is forgiven after 15 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or non-occupancy before 15 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.

Riverside County ARPA First-Time Homebuyer Program (5th District) 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 Riverside County 5th Supervisorial District. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

Riverside County ARPA First-Time Homebuyer Program (5th District) 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.

Riverside County ARPA First-Time Homebuyer Program (5th District) 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.

Riverside County ARPA First-Time Homebuyer Program (5th District) serves homebuyers purchasing in Riverside County, California.

Applications for Riverside County ARPA First-Time Homebuyer Program (5th District) 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.