City of Biggs First Time Home Buyer Down Payment Assistance Program

First Time Homebuyer Program

The City of Biggs is pleased to announce a First Time Homebuyer Assistance Program. Qualified homebuyers may receive up to 50% of the purchase price of a home towards the purchase of a home located in the City of Biggs in the form of a deferred second loan.

Preference will be given to persons living or working in City of Biggs.
Homebuyers must be at or below 80% of Area Median Income for Butte County see income table.
Applicants must meet the following criteria to qualify for the program:
1. Be a First Time Homebuyer;
2. Must be pre qualified with a first lender (this requires full approval from a bank of your choice and good credit history)
3. Attend homebuyer workshops/training
4. Have a recommended downpayment of $1000
New and previously owned single-family homes, condominiums, and manufactured homes on permanent foundations in the City of Biggs are eligible for assistance. Purchase agreements for new construction homes cannot be signed until after the start of the pouring of concrete for the foundation.
The maximum home purchase price for HOME funded loans is $304,000.
Homes must pass an inspection by a City-approved inspector, be in compliance with local building codes, and be free of health and safety hazards.
Rental units are not allowed unless the unit has been vacant for 6 months, or unless the current tenant is the homebuyer.
The homebuyer must live in the unit. The loan will be due and payable if the unit is sold or rented out.