Foreclosure Intervention • Affordable Housing Solutions 

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• First-time Homebuyers •

 • Community Development & Revitalization •

 

First Time Homebuyers Mortgage Assistance Programs (MAP) are designed to assist low and modrate income, first time homebuyers to purchase homes usually in targeted or redevelopment areas.  Neighborhood Housing Services offers two MAP programs.  Below you will also find links to government sponsored programs.

Purchase Plus - Mortgage Assistance

The NHS Purchase Plus program was established in 2003 and is a homeownership program designed to help eligible first-time homebuyers achieve the dream of homeownership.  This program provides a fixed-rate "piggy back" loan allowing for flexible finance alternatives for families who would otherwise be compelled to accept riskier secondary financing.  Funds can be used for down payment or mortgage assistance and subject to funds available at the time of application.

Eligibility

• First-time homebuyer; owner-occupant only
• Completion of NHS first-time homebuyers certification
• Conditional Loan Approval from recognized Lender (conforming loans only)
• Borrower cannot earn more than 150% of AMI as defined by the State of California
• Minimum of $5,000 up to $75,000 but will not exceed more than 18% LTV.
• Term: 120, 180, or 360 due in 180
• Max DTI: 42 (up to 45% with compensating factors)
• Full Program Description available HERE.
• Program Application is available HERE.

CAL-HOME MORTGAGE ASSISTANCE & REHABILITATION PROGRAMS

The CALHOME program was established by SB 1656 (Alarcon).   The Program is a homeownership program designed to make funds available to support existing homeownership programs aimed at low and very low income households and operated by a local public agency or the non profit corporation.

NHS administers its CALHOME funding the Program Regulations adopted on July 15, 2003.  The regulations are available on the Housing & Community Development (HCD) website at www.hcd.ca.gov.  For exact regulatory language, please refer to the CALHOME Program Regulations: Section 7726 describes the terms and conditions required and/or allowed with the CAL HOME Program Loan. Section 773 (a)(4) describes the terms and conditions allowed in financing subordinate to the CAL HOME program loan, that is loans made from funds provided from some source other than the CAL HOME Program awards. 

Eligibility

• Mortgage Assistance Program: First-time homebuyer; owner-occupant only
• Rehabilitation Loan Program:  Owner-occupant
• Completion of NHS first-time homebuyer’s certification
• Borrower cannot earn more than 80% of AMI as defined by the State of
• California
• Minimum $5,000  Maximum $20,000.
• Term: Deferred, 3% simple interest.  Due in 360 months
• Max DTI: 42 (up to 45% with compensating factors)
• Full Program Description is available HERE

City of San Pablo

The Redevelopment Agency of the City of San Pablo’s (Agency) First-Time Homebuyers Program offers up to $200,000 for the purchase of a home in the City of San Pablo to low, and moderate-income, first-time homebuyers.  More info http://www.ci.san-pablo.ca.us/main/First-TimeHomeBuyersProgram.htm

City Of Hercules

The City of Hercules and the Redevelopment Agency of the City of Hercules consider the Affordable Housing Program as the main vehicle that will assist in the delivery of a comprehensive program to address the many needs of low to moderate-income individuals/families/households related to housing  More Info www.ci.hercules.ca.us  

Still have questions? Please contact us anytime! We look forward to hearing from you.

State of California

The California Housing Finance Agency understands how much you want to own your first home. They also realize how difficult that can be. That is why the State offers low interest rate first mortgage programs and a variety of down payment assistance programs to eligible first-time homebuyers, which can turn your dreams of homeownership into reality. For more information on their programs, call 877.922.5432.

http://www.calhfa.ca.gov/homebuyer/