City of Napa First Time Home Buyer’s Assistance Program,Down Payment Assistance

This program is funded through grant funds the City of Napa receives from the State of California HOME Investment Partnership Program. The program assists families who are first time homebuyers (cannot have owned a home in the last three years) and whose income is at or below 80% of the area median income level for Napa County.

DOWN PAYMENT ASSISTANCE PROGRAM

The Down Payment Assistance Program is funded through grant funds from the State of California HOME Investment Partnership Program.

* Program assists families who are first time homebuyers who intend to occupy the property.
* Gross annual income below 80% of median income.
* City will loan up to 30% of purchase price.
* 30 year loan, deferred payments for the 30 years.
* Appreciation share paid at time of payoff or sale of home.
* Purchase any home, condo, townhouse, or mobile home in city limits.
* Purchase price limit, $532,000.
* Program requires that the first mortgage must be a minimum 30 yr, fixed rate, fully amortized mortgage loan. A loan pre-approval letter is required with application.
* Buyer must have 3% of purchase price as down payment (cannot include seller credits)
* Work with local realtor to find property.
* The property must be owner-occupied or vacant at the time of the purchase agreement is presented.
* Home must pass Housing Quality Standards inspection.
* Attend homeownership counseling.

To view the City of Napa’s website, please CLICK HERE