The City of Citrus Heights First-Time Home Buyer Program is a down payment assistance (DPA) program. If you want to purchase a home but need assistance with financing the down payment, you may be able to apply for a low-interest loan for up to $40,000 through this program. The funds originate from the City of Citrus Heights, and the administrator of the program is NeighborWorks Homeownership Center Sacramento Region. For more information on the program, contact NeighborWorks Sacramento at (916) 452-5356.
Program Highlights
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Low-Interest - The down payment assistance loan has a low, deferred simple interest rate
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Finance part of your down payment - Contact NeighborWorks Sacramento to find out how much you are eligible to receive
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Learn to be a successful homeowner - In addition to securing the purchase of your home, you'll benefit from the
required home buyer education that will inform you about the purchase process, as well as tips about financial management and home maintenance
Who is Eligible?
Who can buy?
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First-Home buyer Homebuyer - a borrower(s) who has not owned a home for the past three years. Some exceptions apply, so call and ask if you qualify!
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Your family's income must be at or below certain income limits
First-Home buyer Homebuyer Program Income Limits
U.S. Dept. HUD 2013
|
Family Size |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
Income Limit |
$40,550 |
$46,350 |
$52,150 |
$57,900 |
$62,550 |
$67,200 |
$71,800 |
$76,450 |
What kind of house can I buy?
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Must be within the Citrus Heights city limits
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Must be purchasing an owner-occupied, single-family residence, condo, or half-plex (no rental housing or duplexes). Foreclosed, bank-owned homes (REOs) and short sales are also permitted
Do you meet these eligibility requirements? Are you close to meeting them? Talk to a NeighborWorks Sacramento representative about applying or preparing to apply. Their HUD-certified counselors can assist you with achieving your homeownership goals. Are you already working with a Realtor or lender? Have them contact NeighborWorks for information:
NeighborWorks Homeownership Center
www.nwsac.org
info@nwsac.org
(916) 452-5361 Ext. 210
Download Program Flyer
Other Programs & Resources
The FannieMae Foundation's online Home Buying Guide has very good booklets on home ownership. We also have some of these booklets available at City Hall at no charge.
The state of California Housing Finance Agency (CalHFA) has handy on-line calculators to determine your mortgage payment and the home price you can afford.
SHRA offers the American Dream Down-payment Initiative and Mortgage Credit Certificate programs that may be used in Citrus Heights and may be "layered" with Citrus Heights Down Payment Assistance.
CalHFA offers several programs that may be used with CalHFA loans and as stand-alone assistance. Some of these programs may be combined with Citrus Heights programs.
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