City of Ceres First Time Home Buyer's Assistance Program

First Time Homebuyers’ Program

The City of Ceres’ First Time Home Buyers Program (FTHB) helps eligible applicants purchase a home with an $80,000.00 down payment loan. These funds are made possible through the HOME program.

Funding Availability Status
We currently have a waiting list for funding. Please call (209) 538-5756 to provide the proper information in order to be added to the waiting list or fill out an Interest Form and mail to:

City of Ceres
Attn: Housing Programs
2720 2nd Street
Ceres, CA 95307

Requirements for the program
You must meet all of the following requirements to be eligible for this program.

1. You must be below 80% of Stanislaus County’s median income for the number of people in your household. See the following income table.
2. You must contribute a minimum of $3,000.00 to be used toward the purchase of the home. Funds must be available at time of application.
3. You must have good credit with no outstanding collections, judgments, liens or any other negative debt. You must qualify for a new current market rate first mortgage with a lender of your choice that is acceptable to our First Time Homebuyer Program.
4. You must not have owned a home within the last three years and you must occupy the purchased property as your primary residence.
5. The property must not exceed single family mortgage limits. Contact us for current limit.

Repayment of the Loan
No monthly payments are required. Interest on the $80,000.00 begins to accrue in at 3% simple interest for 30 years.

The total amount of the loan plus any accrued interest becomes due and payable when the property is sold, rented, no longer occupied by the primary borrower or 40 years which ever occurs first.

To Apply
Obtain all the items on the following Document Checklist, and then call our office at (209) 538-5756 to schedule an appointment. Applicants are processed on a first come first serve basis. Please check Funding Availability Status above to see if there is a waitlist.

To view the City of Ceres website, please CLICK HERE

Other articles about this topic that might interest you:

City of Ceres First Time Home buyer’s Assistance Program First Time Homebuyers’ Program En Español The City of Ceres’ First Time Home Buyers Program (FTHB) helps eligible...
City of Turlock First Time Home Buyer’s Assistance Program Updated 3/9/09: I called today, funding is currently not available. Funding possibly available on July 1st, 2009. First Time...
City of Garden Grove First Time Home Buyer’s Assistance Program Updated 3/9/09: I called today, funding is currently unavailable. First Time Homebuyers Program When funds are available, Neighborhood Improvement...

Tagged as: City Mortgage Assistance, City of Ceres, down payment assistance, first time home buyer assistance