Shared Equity Agreements For First-time Buyers In Alameda
Description
Form popularity
FAQ
Be a first-generation homebuyer. be a current California resident. Homebuyer Education is required. Please refer to the CalHFA Conventional Loans Program Handbook for full details.
Applications for California's down payment assistance program for first-time homebuyers are now open.
Eligible homebuyers who contribute a minimum of $10,000 toward their downpayment may qualify for a grant of up to $50,000 that can be used for the homebuyer's downpayment and closing costs.
California: Financial Assistance Resources for Families Child Care Financial Assistance. Temporary Assistance for Needy Families (TANF) ... Children's Health Insurance Program (CHIP) ... Women, Infants, and Children (WIC) ... Supplemental Nutritional Assistance Program (SNAP formerly Food Stamps) ... Low Income Energy Assistance Program.
Alameda County Household Income by Size of Household % of Area Median Income1 person Extremely Low Income (up to 30% AMI) $16,350 to $32,700 Very Low Income (30-50% AMI) $32,701 to $54,500 Low Income (51-80% AMI) $54,501 to $84,600 Median Income (100% AMI) $84,601 to $130,8001 more row
Eligibility. One borrower must be a first-generation homebuyer. All borrowers must be first-time homebuyers. Income must meet CalHFA Income Limits for the county you are purchasing in.
Insufficient Credit History Most lenders require a minimum credit score of 620 to qualify for a mortgage. Without enough active accounts in good standing, first-time buyers often fall short of this threshold. Maintaining timely payments and keeping credit card balances low is key to building credit.
2023/2024 CalHFA Income Limits CountyLow IncomeModerate Income Los Angeles $84,160 $194,000 Madera $65,280 $165,000 Marin $126,560 $300,000 Mariposa $67,040 $165,00054 more rows
