U.S. Bank Access Home Loan - California

What is U.S. Bank Access Home Loan - California?

U.S. Bank Access Home Loan - California is a grant for homebuyers in California.

• Assistance funds of up to $8,000 or 3% of purchase price up to $12,500 (whichever is greater) for down payment, closing costs, required repairs or improvements. Available in California. No repayment required.
• Up to $12,500 in assistance.
• non-repayable grant.
• Funding comes from Bank (CRA).

How much assistance does it provide?

U.S. Bank Access Home Loan - California provides assistance worth 3% of the purchase price, as set by the program.

• The program asks buyers to contribute 3% 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?

U.S. Bank Access Home Loan - California 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?

U.S. Bank Access Home Loan - California is open to buyers who will live in the home as their primary residence.

What are the income limits?

U.S. Bank Access Home Loan - California limits household income to 100% of the area median income, which varies by county and household size.

• Income at or below area median income (no income limit if buying in a low-to-moderate income census tract); FICO 640+ (680 for 2+ units); DTI under 43%; $1,000 minimum borrower contribution; homebuyer course required.
• 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?

U.S. Bank Access Home Loan - California caps the purchase price as follows: Contact program for current purchase price limits.

• Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

U.S. Bank Access Home Loan - California serves buyers purchasing anywhere in California.

How do you apply?

Applications for U.S. Bank Access Home Loan - California go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

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

3. 3

   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.