First Time Homebuyer Programs & Assistance in Orange County California

WHY BECOME A HOMEOWNER?
Income Tax Savings: The government subsidizes your home purchase. It allows you to fully deduct all of the mortgage interest and property taxes paid through the year on your tax return. Home ownership is an incredible tax shelter that can save you thousands on your taxes.
Savings for The Future: Every month a portion of your payment goes to principal reduction of your loan. As your loan balance gets smaller, your equity grows. Homes also typically appreciate in value when they are kept up. It depends on your location, but appreciation historically averages about 5% per year. Many people view owning a home one of the best financial decisions and a hedge against inflation.
The Pride of Ownership: This is undoubtedly the number one reason people buy homes. They want the freedoms that go along with home ownership. That means you can paint the walls any color you desire, you can make changes to fixtures and decorate to your taste. It gives your family a sense of security and stability knowing that you no longer have to move every year. You are making an investment in your future.
There are California and City down payment assistant programs that aren’t widely advertised. Even most Mortgage Brokers, Real Estate Agents, and Lenders don’t know these programs exist or couldn’t tell you who you need to contact to find out about them. Cal HFA (California Housing and Finance) loans are widespread, but there are many banks and lenders that do not work with this type of loan.

NeighborWorks Orange County
Great place to start if you are planning to buy a home for the first time. Whether it’s setting up savings plans, helping a customer find a matching down payment assistance program, or learning more about caring for a home long-term, they are with you for the whole process.
City of Buena Park:
The City of Buena Park First-Time Homebuyer Program provides assistance to first-time homebuyers through a deferred 30-year second mortgage loan of up to a maximum of $60,000 at 3% simple interest. The funds may be used toward the purchase of a single-family home or condominium/townhome in Buena Park. The borrower must provide a minimum 3% down payment to participate in the program. This program utilizes CalHome funding and is limited to those at or below 80% of the Area Median Income of Orange County as determined by HUD.
City of Buena Park 6650 Beach Boulevard Buena Park, CA 90621 For additional information, please contact Jessica Fewer, Management Assistant , at (714) 562-3590
https://www.buenapark.com/city_departments/economic_development/housing_programs
City of Anaheim: Downpayment Assistance
City of Brea: Homebuyer Assistance Program
City of Huntington Beach: Inclusionary Housing Program
City of Santa Ana: Homeownership Programs & Home Purchase Opportunities
City of Westminster: First Time Home Buyer Program
National Homebuyers Fund:
NHF is available in most U.S. states and qualifying guidelines are flexible. The assistance may be forgiven immediately, after a short period of years, or have repayment requirements, depending on the Program.
FHA Grants
The most recognized 3.5% down payment mortgage in the country. Affordable payments w/good credit