What is the Government Down Payment Assistance (DPA)？
Government Down Payment Assistance (DPA) offer cash grants to qualified homebuyers.
Government Down Payment Assistance Program Highlights
♦ Los Angeles County: Up to $85,000. Income limit is up to 120% AMI ⬆
The Los Angeles County Development Authority (LACDA) launches the HOME OWNERSHIP PROGRAM program, which provides down payment assistance up to $85,000 or 20% of the home price (whichever is lower), 0% interest, and no monthly payments!
You only have to repay the assistance portion when the home is sold or when ownership of the property changes. If the house is sold within 5 years, 20% of the increase in the value of the house needs to be returned to LACDA; if the house is sold after 5 years, only the assistance amount is repaid.
| Programs | HOP80 | HOP120 |
| Area | LA County | |
| DPA Amount | Up to $85,000, or 20% of the purchase price, whichever is less | |
| Eligible Use | Down payment and/or closing cost | |
| Income Llimit | ≤ 80% AMI | ≤ 120% AMI |
| Borrower Contribution | Min.1%, total contribution cannot exceed $150,000 | Min.1%, total contribution cannot exceed $200,000 |
| Max. Purchase Price | $700,000 | $850,000 |
| Occupancy | Primary | |
| Borrower Eligibility | Each borrower must be a FTHB and complete an eight-hour homebuyer education course | |
♦ Santa Clara County: Up to $250,000
Empower Homebuyers is Santa Clara County’s down payment assistance loan program for first-time homebuyers. This program provides assistance up to $250,000 (not to exceed 30% of the purchase price)!
0% interest on the assistance portion and no monthly payments! It only needs to be paid back when the loan matures, the property is sold, or you refinance. You will need to repay the assistance amount and some of the increase in the value of your home.
30 Years or 15 Years Fixed
For First Time Home Buyer
Primary Home Only
1) Max. LTV 95%;
2) Min. FICO 620.
