This program provides up to a $40,000 silent (deferred payment) down payment assistance loan to low-income, first-time homebuyers purchasing in participating cities and unincorporated areas of Orange County. Principal and interest payments are deferred for the term of the loan and payment is not due until the 30th year, or in the event of the sale or transfer of the property. The maximum home purchase price cannot exceed 85% of the Orange County median sales price for all homes (I will contact the Affordable Housing Clearinghouse for you for an update on maximum purchase price).
Homebuyer Requirements:
- Must be a first-time homebuyer
- Must meet household income limits
- Must be a U.S. Citizen or Permanent Resident Alien
- Must contribute 1% of purchase price from own funds
- Must complete homeownership education seminar
- Must work with one of three MAP approved mortgage lenders
- Must purchase a home in an eligible area of Orange County (see below)
Income Limits *
Maximum combined household income for all adults over 18 years old must not exceed the following:
Household Size |
Income |
1 |
$53,950 |
2 |
$61,650 |
3 |
$69,350 |
4 |
$77,050 |
5 |
$83,250 |
6 |
$89,400 |
7 |
$95,550 |
8 |
$101,700 |
Eligible Areas
|
|
County of Orange Unincorporated Areas
|
|
How Do I Apply?
Call me at (949) 290-3263 and I'll walk you through the steps! I will also ask the Affordable Housing Clearinghouse to provide you with a full application.
Program Information
