Description: Offers down payment assistance loans to first-time homebuyers to aid in the purchase of a home within the City of Santa Ana. Funds will be made available on a first-come, first-served basis. A first-time homebuyer may be eligible to borrow up to $120,000 with a 0% interest rate.Total Annual Income of the household, meaning all persons residing in the home as their principal place of residence, cannot exceed the income limits established below: Household Size Low Income Moderate Income 1 Person $75,300 $89,650 2 Persons $86,050 $102,450 3 Persons $96,800 $115,250 4 Persons $107,550 $128,050 5 Persons $116,200 $138,300 6 Persons $124,800 $148,550 7 Persons $133,400 $158,800 8 Persons $142,000 $169,050
Eligibility: - 18 years and older, Borrower(s) must be a resident of Santa Ana and/or work in Santa Ana at least 32 hours per week for at least the last 6 months, Must be pre-qualified for a first mortgage, Must be a first-time homebuyer (or have not owned a home in the last 3 years), Must make a down payment of at least 3% from own funds, Must complete the Homebuyer Counseling Program through NeighborWorks of Orange County, Home to be purchased must be located in Santa Ana
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