Description: Offers eligibleapplicants down payment assistance to purchase a home with up to $50,000 or 40% (whichever is less) of the sales price of a home.
These funds are made possible through federal and state funded programs.
Eligibility: You must be below 80% of Stanislaus County's median income for the number of people in your household; Contribute a minimum of $3,000.00 to be used toward the purchase of the home; have good credit with no outstanding collections, judgments, liens or any other negative debt. You must qualify for a new current market rate first mortgage with a lender of your choice that is acceptable to our First Time Homebuyer Program; have owned a home within the last three years and you must occupy the purchased property as your primary residence. The property must not exceed single family mortgage limits. Contact us for current limit.
Requirements: 1. Last (3) years income taxes2. Last (2) months pay stubs3. Other proof of income for household members4. Last (3) months bank statements with a balance of $3,000 with bank name, address, phone and account number. 5. List of all creditors showing balance and monthly payment of each. 6. Copy of purchase contract
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