American Rescue Plan Act First Time Home Buyer Down Payment Assistance Program (ARPA FTHB)
The Riverside County American Rescue Plan Act First Time Home Buyer Down Payment Assistance Program (ARPA FTHB) is designed to provide assistance to low to moderate income persons in the purchase of their first home. Assistance may be provided for the down payment on the purchase of a home.
Program Highlights:
-
Provide down payment assistance for low to moderate income households
- Provide a down payment (closing costs available) of a maximum of 20% (up to $100,000) of the home's purchase price
- Lower loan amount and monthly mortgage payment
- A silent second mortgage with no payments and no interest
- 15-year county lien - The loan is forgiven after inhabiting the home for 15 years
Homebuyer Qualifications:
- First-time home buyer
- Must qualify for the first mortgage loan with an approved lender. View approved lender list.
- Home must be located within the Fifth District:
- Banning, Beaumont, Calimesa, Hemet, Moreno Valley, San Jacinto, or a 5th District Unincorporated Area. View 5th district map.
- U.S. Citizen or Qualified Resident
- Gross income of 120% or less of the median income (see chart below)
| MAX ANNUAL HOUSEHOLD INCOME - Effective: July 1, 2024 | |||||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| $81,900 | 93,600 | 105,300 | 117,000 | 126,350 | 135,700 | 145,100 | 154,450 |
| PURCHASE PRICE LIMITS 2024 - 2025 | |
|---|---|
| New Construction Single-Family | $527,193 |
| Existing Single-Family Residence | $527,193 |
| New/Existing Condo or Townhouse | $536,750 |
| Manufactured Home | $306,850 |