First Time Home Buying Programs in Roseville, CA

Congratulations! You have decided to take a major step and purchase your first home. This is an exciting time in your life. Since your home purchase is probably going to be the biggest investment you have made so far, it is good to research all of your options and learn about resources for first-time buyers right here in Roseville, CA, so you can be sure you get the best financing available. Consider the following first-time home buying programs and see how you may benefit from enrolling.

First Time Home Buyer Down Payment Assistance Program (FTHB)

This program is designed to help low-income, first-time homebuyers obtain the funds necessary for their down payment, up to $60,000. This assistance is in the form of a deferred loan, also known as a second mortgage. Homebuyers who qualify for the FTHB assistance program must have an annual household income of below 80 percent of the median income for the Sacramento/Placer County area, and should not have owned a home for at least three years prior to applying. Other terms and conditions apply, so be sure to check the Roseville, CA housing assistance website to learn more about this program.

First Time Homebuyer Assistance Program- Placer County

Prospective first-time homebuyers who qualify for this program are eligible to receive loans of up to $100,000. Homes must be purchased in the unincorporated areas of Placer County. You must have 3% of the total purchase price of the home available at the time of application for this program, and you must be pre-approved for a first mortgage loan in order to qualify. This program can help make mortgage payments more affordable on a monthly basis for homebuyers who meet all requirements and submit a complete application. To learn more about the Placer County First Time Homebuyer Assistance Program, visit the Placer County website.

Golden State Finance Authority (GSFA)

GSFA is a government program which provides low-to-moderate income California residents with affordable financing. Going through GSFA can secure prospective homebuyers with low interest rates and down payment and/or closing cost assistance. Qualifying homebuyers are eligible for a mortgage credit certificate, which entitles them to receive a portion of the interest paid on the mortgage as a tax credit each year. Additionally, homebuyers who plan on making energy-efficiency improvements to their property may be able to obtain financing for their projects through GSFA. Visit the GSFA website for more information about their available programs.

Prospective first-time homebuyers in Roseville, CA have a lot of options at their fingertips when it comes to applying for a first-time homebuyers down payment assistance program. For questions about which type of assistance is best for you, or with help navigating these programs from application to acceptance, Bishop Real Estate Group is here to help. We’ll explain the difference between FHA and conventional mortgage loans, and assist you with the eligibility requirements you will need to apply for any of these down payment assistance programs. Buying your first home is a major life event- you can rest assured you will be in good hands with the experienced team at Bishop Real Estate Group. Contact us today to find out how to make your dream of homeownership a reality!