Santa Ana’s Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. These funds are available on a first-come, first-served basis, in the form of a zero-interest loan.

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Santa Ana Downpayment Assistance Program

Financial Assistance for Homebuyers in California

The City of Santa Ana in California recognizes that many potential homebuyers who can afford monthly mortgage payments don’t have the funds saved up to make required down payment on a new home. To help individuals overcome this hurdle, the City offers the Downpayment Assistance Loan Program to first-time homebuyers, which helps them purchase of a home within the City of Santa Ana.
 
Available Assistance
Santa Ana’s Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. These funds are available on a first-come, first-served basis, in the form of a zero-interest loan. These assistance funds  for properties being purchased that will be owner-occupied.
 
Eligibility Requirements
There are certain requirements that must be met to qualify for the program. Only first-time homebuyers are considered eligible for Santa Ana’s Downpayment Assistance Loan Program, which means that anyone who has owned a home in the last three years cannot qualify for assistance. They must be pre-qualified for a first mortgage, and have acceptable credit history. An applicant’s household annual income must fall at or below 80 percent of area median income, as published annually by HUD (Limits shown below).

Homebuyer Education
Applicants are also required to complete the Homebuyer Counseling Program, and must be able to contribute at least 3 percent of the down payment from their own cash assets.

Property Guidelines
Any home being purchased must be located in Santa Ana, and cannot exceed the program’s maximum purchase price of $499,000 for a new or existing home/condo.
 
Income Limits
Household income is defined as all income received by household members (18 years or older) who will be living in the home, even if they are not on the mortgage.

1 person household: $54,600
2 person household: $62,400
3 person household: $70,200
4 person household: $78,000
5 person household: $84,250
6 person household: $90,500
7 person household: $96,750
8 person household: $103,000

(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.) spacer

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in California

The City of Brentwood offers first-time homebuyers the Down Payment Assistance Program (DAP), which provides funds that go toward the down payment and/or closing costs. Assistance comes in the form of a deferred payment loan program for first-time homebuyers.

The CalHome Program provides applicants up to 17 percent of the total property price for down payment assistance, and 4 percent (up to $10,000) in closing costs assistance. These funds come in the form of a loan with 3 percent simple interest per year, accrued annually.

‚ÄčThe First Time Homebuyer Loan Program that was established by the City of Emeryville  provides down payment assistance to households at or below moderate income. This initiative gets individuals out of the renter’s trap by helping them to pay the heavy, upfront costs of purchasing a home.

Under the First Home Mortgage Program, applicants can receive up to 4 percent of the total first mortgage amount to be put toward paying the down payment and closing cost assistance. This assistance comes in the form of a grant, which has no repayment terms.

Califonia’s Golden State Finance Authority (GSFA) created the Platinum Program, which provides low-to-moderate income California homebuyers with down payment and/or closing cost assistance to help them achieve their goals of purchasing a home.

The FTHB Program provides down payment assistance in the form of a loan, the maximum amount of which may not exceed the lesser of the maximum HOME subsidy limit, 20 percent of the purchase price, or the amount needed as determined by underwriting criteria. The maximum loan amount will never exceed the amount of the primary loan.

The MyHome Assistance Program offers applicants a deferred-payment junior loan up to 3% of the purchase price/appraised value of the mortgaged property in order to help make the down payment or pay the closing costs.

CalHome Grant in order to help individuals achieve their dreams of homeownership. This program funds the Riverside Down Payment Assistance Program, which provides first-time homebuyers up to $50,000 to help pay the hefty, upfront costs on their new homes.

Santa Ana’s Downpayment Assistance Loan Program provides eligible applicants up to $40,000 to be put toward the down payment on their new home. These funds are available on a first-come, first-served basis, in the form of a zero-interest loan.

The School Teacher Employee Assistance Program grants eligible applicants a junior loan for teachers, administrators, school district employees, and staff members working for any California K-12 public schools as down payment assistance when purchasing their first home.

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