There are federal and California resources for first-time qualifying homebuyers. Click the link to visit their websites.
- U.S. Department of Housing and Urban Development’s FHA loans program.
- Home Ownership Program (HOP): The Home Ownership Program (HOP) loan provides a second mortgage loan for first-time homebuyers with an assistance amount of up to $85,000, or 20% of the purchase prices, whichever is less. For more information, please visit the HOP website.
- Mortgage Credit Certificate Program (MCC): The MCC Program offers the first-time homebuyer a federal income tax credit. This tax credit reduces the federal taxes the holder of the certificate pays. It can also help the first-time homebuyer qualify for a loan by allowing a lender to reduce the housing expense ratio by tax savings. For more information, please visit the MCC website.