Stanislaus County is pleased to offer a First-Time Home Buyer Assistance Program to qualified first-time home buyers who wish to purchase their first home in the Unincorporated Areas of Stanislaus County. The property may be a detached or attached single-family home, or a townhouse. Funds available are through the Home Investment Partnership Program (HOME), CalHOME program funds, and the Stanislaus County Redevelopment Agency. Following is a not-all-inclusive summary of the Program.

• Up to $37,500 at three percent (3%) simple interest per annum for 10 years (deferred for 55 years)
  
  
• Up to $37,500 (combination not to exceed $75,000) zero-interest with payment deferred for 55 years (DPL)
  
  
• These funds can cover initial costs: loan origination, points, title insurance, escrow fees, impounds, etc.
  
  
• Funds available through a Home Investment Partnership Program (HOME), Stanislaus County Redevelopment and CalHome Program funds.

• Buyer must complete a Homeownership Counseling Class prior to the purchase of a home.
  
  
• Buyer must interview with DPA staff to determine program eligibility. Please call for an appointment
  
  
• Household income must not exceed the amounts in the following chart per family size:

2008 Income Limits

• Must be located in the unincorporated area of Stanislaus County.
  
  
• Structurally sound previously owned home, preferably built after 1978, and must not exceed the sales price of $423,750.00
  
  
• A unit is ineligible if its purchase would result in a displacement of a tenant.
  
  

• No variable buy-down financing, primary financing will be fixed loans only.

1. Income Tax Returns for the last 3 years.
   
   
2. W-2’s (most recent).
   
   
3. Last month’s pay stubs.
   
   
4. Bank statements for the last 3 months.
   
   
5. Pre-approval letter from lender.
   
   
6. Proof of completing a Homeownership Counseling Class Prior to the purchase of a home.
   
   
7. A credit check will be performed by our staff.

***NOTE: Investor-owned properties may not participate in the program unless:

1. The property has been vacant more than six (6) months, or
   
   
2. The applicant is the current occupant of the property.

The following are the County unincorporated (which include but not limited to) eligible areas in which the Down Payment Assistance program may be used:

An Equal Housing Opportunity Lender

If you are interested in more information or would like to apply for the Program, please call the Housing Division at:
209-525-6330, TDD 209-525-5999