hey prescott.
See what you qualify for
Statewide programGrant

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California is a grant for homebuyers in California.

Last verified
Check if this fits me Official program site ↗

The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Contact lender for current credit score requirements
  • Residency: Primary residence in eligible area
  • Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen
  • Closing cost credit (not down payment); must use Wells Fargo mortgage; income ≤80% AMI; non-repayable lender credit
  • A home in California

It doesn’t cover

  • Manufactured homes
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

80% of the area median income where the home is

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

Income limits in California

Where it applies

California’s homes

  • 57% single-family
  • 7.4% townhouse
  • 7.8% 2–4 units
  • 24.1% 5+ units
  • 3.6% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$734,700

California median home value

56%

built before 1980

U.S. Census Bureau, ACS 2024 5-year.

How to apply

  1. Contact the administering agency to reserve funds

    Funds are reserved through Lender direct application, and are subject to availability.

  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 homebuyer can take it to a lender or housing counselor.

Questions about this program

What is Wells Fargo Dream.Plan.Home. Closing Cost Credit - California?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California is a grant for homebuyers in California. Up to $5,000 closing cost credit for eligible first-time homebuyers in select CA areas purchasing primary home. Applied toward one-time closing costs (appraisal, title, recording fees). No repayment required. Up to $5,000 in assistance. non-repayable grant. Funding comes from Bank (CRA).

How much assistance does it provide?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California offers up to $5,000 in assistance. The program asks homebuyers 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?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California is structured as a grant, so it is not repaid. Repayment is triggered by None (lender credit). 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?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California 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. Residency requirement: Primary residence in eligible area. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Closing cost credit (not down payment); must use Wells Fargo mortgage; income ≤80% AMI; non-repayable lender credit.

What are the income limits?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California limits household income to 80% of the area median income, which varies by county and household size. 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?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - 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?

Wells Fargo Dream.Plan.Home. Closing Cost Credit - California serves homebuyers purchasing anywhere in California.

How do you apply?

Applications for Wells Fargo Dream.Plan.Home. Closing Cost Credit - California go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lender direct application. 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.

Also for California homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 116 programs for California

Program terms are set by the administering agency and can change; confirm on the official site before you apply.