THERE CURRENTLY IS NO FUNDING AVAILABLE FOR THE HOMEBUYER ASSISTANCE PROGRAMS. PENDING A STATE OF CALIFORNIA FUNDING AWARD, THE HOMEBUYER PROGRAM MAY BE REINSTATED IN THE JULY 2009 TO JUNE 2010 FISCAL YEAR. PLEASE CONTACT THE HOUSING AND COMMUNITY DEVELOPMENT OFFICE AT THAT TIME TO VERIFY FUNDING AVAILABILITY.


The CalHome Mortgage Assistance Program is funded by the California Department of Housing and Community Development to help low-income home buyers purchase their first home by providing financing in the form of a deferred/forgivable loan.

The CalHome Mortgage Assistance Program is available City-Wide!

*Please Note: The CalHome Mortgage Assistance Program cannot be used in conjunction with the Home Buyer Assistance Program.

Download Adobe Reader to view the following PDFs:

• Spanish CalHome fact sheet (pdf) 
• CalHome Hmong Fact Sheet
• Home Buyer Education Courses (pdf) 
• List of Participating Lenders (pdf)

Highlights of this loan

• Up to $75,000 available to help close the "gap" between the sales price of the home (including closing costs) and the primary loan amount plus the required down payment. 
• This loan is due in 30 years, upon sale of the home, transfer of title, or when the home is no longer the buyer's principal residence.
• 0% interest.
• No monthly payments or loan fees.
• Up to $4,000 is available to help the buyer pay for closing costs. This loan can be forgiven after 10 years if the home is still the buyer's principal residence.

Qualifications

A prospective buyer must. . .

• Be a first time home buyer 
• Meet income requirements 
• Contribute at least 3% of the home sales price as a down payment 
• Complete a city approved home buyer education training class 
• Qualify for a home purchase mortgage from our list of lenders

 The prospective property must. . .

• Be located within the city limits of Fresno (excluding County islands) 
• Be used as the buyer's principal residence 
• Pass a health & safety inspection, performed by city staff 
• Have a purchase price not to exceed $289,750.  This amount reflects the median purchase price for this area as published by the Federal Housing Administration for its 203(b) program.

Income Eligibility

Household Size Monthly Max Gross Income
1                        $2,370
2                        $2,708
3                        $3,050
4                        $3,387
5                        $3,658
6                        $3,929
7                        $4,200
8 and over         $4,470

Steps

1. Meet all requirements above. 
2. Contact a participating lender. 
3. Qualify for a loan with the lender. 
4. Lender submits your info to the City. 
5. City reviews your application.

FAQs
Q. Can I buy a condo?
Answer: Yes, as long as it will be your principal residence.

Q. What's the difference between the CalHome Program and the Homebuyer Assistance Program?
Answer: A CalHome loan will be due and payable in 30 years, or when title is transferred. A Homebuyer Assistance Program loan is due upon sale of the home, transfer of title or when the home is no longer the Buyer's principal residence.

Q. If I'm on public assistance, can I participate in this program?
Answer: Likely no, as you must have sufficient income to purchase a home.