CITY OF BRENTWOOD ANNOUNCES ITS FIRST TIME HOMEBUYER PROGRAM TO ASSIST IN THE PURCHASE OF A MARKET RATE HOME
The City of Brentwood Housing Division announces the availability of a limited number of loans to assist in the purchase of market rate homes within the City of Brentwood. The Downpayment Assistance Program (DAP) will provide loans of up to $50,000 for the purchase of a first home in Brentwood.
The maximum purchase price of a newlyconstructed home cannot exceed $613,146 and the price for a resale home cannot exceed $652,257. This downpayment assistance loan may only be used with conventional, fixed rate loans in first position.
Applicants must be able to contribute at least 3% of the purchase price of the home with their own personal funds to be eligible for the program. Income limits and other restrictions apply.
Funds for this program are limited, so all loans will be on a first-come, first served basis to qualified borrowers. All homes must be owner-occupied, no renters allowed during the term of the loan.
To view the City of Brentwood’s website, CLICK HERE
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