Local Loan Programs - Northern California

CONCORD
Phone: 925-671-3341
Website: www.cityofconcord.org/living/housing

First Time Homebuyer Program

Eligibility: Low and moderate income
Type: Deferred, shared appreciation loan
Maximum loan: $15,000 (100% to 120% of AMI) to $25,000 (cannot exceed 100% of AMI) or 20% of purchase price.
Loan term: 45 years or due upon sale of the property
Interest: 0%


FRESNO
Phone: 559-621-8300
Website: www.fresno.gov

CalHome Mortgage Assistance Program

Eligibility: Low income
Type: Deferred, forgivable loan*
Maximum loan: $75,000
Loan term: 30 years or due upon sale of the property, change of use, or change of ownership.
Interest: 0%
*$4,000 of the loan can be forgiven after 10 years.


OAKLAND
Phone: 510-238-3015
Website: www.oaklandnet.com/government/hcd

First Time Homebuyers Mortgage Assistance Program

Eligibility: Low income
Type: Deferred loan
Maximum loan: $75,000
Loan term: 30 years or due upon sale of the property, change of use, unapproved refinance, or change of ownership.
Interest: 3% simple


SAN FRANCISCO
Phone: 415-701-5500
Website: www.sfgov.org/site/moh

City Second Loan Program & Downpayment Assistance Loan Program (DALP)

Eligibility: Low and moderate income
Type: Deferred, shared appreciation loan
Maximum loan: $150,000 or 30% of the purchase price, whichever is less.
Loan term: 40 years
Interest: 0%


SAN JOSE
Phone: 408-535-3860
Website: www.sjhousing.org
E-mail: housing@sanjoseca.gov

Equity-Share Homebuyer Program

Eligibility: Low and moderate income
Type: Deferred, share appreciation loan
Loan term: 30 years
Interest: 0%
At the time of resale, an assisted home buyer has two options:
A. Sell the unit at a restricted sales price to an income-eligible home buyer, provided that the new home buyer will assume the city loan and existing restrictions; or
B. Sell the unit for full market value and repay the city loan principal in addition to a portion of the accrued equity from the sales proceeds.


VISALIA

Phone: 559-732-4194
Website: www.ci.visalia.ca.us

First Time Homebuyers Program

Eligibility: Low income
Type: Deferred loan
Maximum loan: $60,000
Loan term: 30 years
Interest: 2% simple
NOTE:
- Payments can be deferred for the first five years.
- Income recertification every five years thereafter.
- Minimum $75 payment required if FHA underwriting debt ratios are met, up to maximum required payment.