Middle-Income Grant for First-Time Homebuyers

First Northern Bank in association with Federal Home Loan Bank (FHLB) San Francisco is committed to increasing access to affordable and sustainable homeownership opportunities for aspiring first-time homebuyers in California.

Eligible homebuyers who contribute a minimum of $10,000 could qualify for a grant of up to $50,000 to apply to their down payment and closing costs.

Summary

The Middle-Income down payment assistance grants are intended to help families and individuals who qualify as first-time homebuyers and earn just over 80% up to 140% of area median income, based on the location of the property to be purchased and adjusted for household size.

General homebuyer eligibility requirements:

Be a first-time homebuyer, as defined by the U.S. Department of Housing and Urban Development (HUD)
Meet income eligibility requirements
Successfully complete a homebuyer counseling program
Purchase an eligible property as their primary residence in California. Such property may include (1) single-family homes, such as condominium, cooperative housing, and manufactured homes, and (2) housing with two to four dwelling units with at least one owner-occupied unit
Open escrow on a home purchase transaction, with closing scheduled within 60 days
Make a minimum contribution of $10,000, which may come from savings or gifted funds

Now’s the time to rethink your homeownership journey and First Northern Bank can help. Give us a call at (530) 297-3901 or email [email protected]

There's no time like the present to get started!