Financial Assistance for Homebuyers in California

The Los Angeles County Development Authority (LACDA) provides low- and moderate- income households with down payment assistance via the Affordable Homeownership Program. With the assistance funds, eligible homebuyers are able afford and secure their dream home.  

Available Assistance 

LACDA’s financial assistance is given in the form of a secondary mortgage, with all payments deferred until sale, transfer, or refinance of the home. LACDA shares in a percentage of the equity accumulated on the property, depending upon the circumstances that exist at the time of subsequent sale, transfer, or refinancing. 

Eligibility Requirements 

All applicants must be first-time homebuyers (those who have not owned a home in the previous three years) and their annual household income must fall within the program’s set income limits. All borrowers named on title must attend and complete homeownership counseling and education from an agency accredited and certified by HUD or the National Reinvestment Corporation. Additionally, the property being purchased with program funds must serve as the borrower’s primary residence. 

Income Limits 

Low (80% of area median income) 
1-person household: $58,450 
2-person household: $66,100 
3-person household: $75,150 
4-person household: $83,500 
5-person household: $90,200 
6-person household: $96,900 
7-person household: $103,550 
8-person household: $110,250 

Moderate (120% of area median income) 
1-person household: $61,400
2-person household: $70,150 
3-person household: $78,950 
4-person household: $87,700 
5-person household: $94,700 
6-person household: $101,750 
7-person household: $108,750 
8-person household: $115,750 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.    

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information. spacer

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

Down-Payment-Help.com’s compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Financial Assistance for Homebuyers in California

The Los Angeles County Development Authority (LACDA) provides low- and moderate- income households with down payment assistance via the Affordable Homeownership Program. With the assistance funds, eligible homebuyers are able afford and secure their dream home.  

Available Assistance 

LACDA’s financial assistance is given in the form of a secondary mortgage, with all payments deferred until sale, transfer, or refinance of the home. LACDA shares in a percentage of the equity accumulated on the property, depending upon the circumstances that exist at the time of subsequent sale, transfer, or refinancing. 

Eligibility Requirements 

All applicants must be first-time homebuyers (those who have not owned a home in the previous three years) and their annual household income must fall within the program’s set income limits. All borrowers named on title must attend and complete homeownership counseling and education from an agency accredited and certified by HUD or the National Reinvestment Corporation. Additionally, the property being purchased with program funds must serve as the borrower’s primary residence. 

Income Limits 

Low (80% of area median income) 
1-person household: $58,450 
2-person household: $66,100 
3-person household: $75,150 
4-person household: $83,500 
5-person household: $90,200 
6-person household: $96,900 
7-person household: $103,550 
8-person household: $110,250 

Moderate (120% of area median income) 
1-person household: $61,400
2-person household: $70,150 
3-person household: $78,950 
4-person household: $87,700 
5-person household: $94,700 
6-person household: $101,750 
7-person household: $108,750 
8-person household: $115,750 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.    

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information. spacer

Down payment assistance programs and/or grants were researched by the team at Down-Payment-Help.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

Down-Payment-Help.com’s compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.