Valley First Credit Union Middle Income Homebuyer Program

What is Valley First Credit Union Middle Income Homebuyer Program?

Valley First Credit Union Middle Income Homebuyer Program is a grant for homebuyers in Statewide, California.

• FHLB-SF Middle-Income Downpayment Assistance grant program. No repayment required if retention period maintained.
• Up to $50,000 grant for middle-income first-time homebuyers via FHLB-SF MDPA program, administered through Valley First Credit Union.
• Funding comes from Federal Home Loan Bank of San Francisco.

Do you have to pay it back?

Valley First Credit Union Middle Income Homebuyer Program is structured as a grant, so it is not repaid.

• Repayment is triggered by FHLB-SF retention period (typically 5 years).
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Valley First Credit Union Middle Income Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Valley First Credit Union Middle Income Homebuyer Program limits household income to 1% of the area median income, which varies by county and household size.

• Middle-income (~120% AMI) per FHLB-SF schedules.
• The limit applies to total household income, not only the borrower’s.
• 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?

Valley First Credit Union Middle Income Homebuyer Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Valley First Credit Union Middle Income Homebuyer Program serves buyers purchasing in Statewide, California.

How do you apply?

Applications for Valley First Credit Union Middle Income Homebuyer Program go through the administering agency.

1. 1

   Take a homebuyer education course

   Required by the program, through Required - HUD-approved homebuyer education.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider 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.