Cal Home
Cal Home Second Mortgage Loan Program
The State of California Housing and Community Development Department awarded grants to MHDC that provide silent second mortgage loans to very low-and low-income, first-time homebuyers. Montebello Housing Development Corporation provides up to $75,000 in Down Payment Assistance for silent second mortgage loans to low and moderate income, first-time homebuyers. Home purchase is now open to any county in California. Download and complete an intake form for our First Time Homebuyer Program
Cal Home Loan Program Requirements
• Have not had an ownership interest in residential real estate within the preceding three (3) years.
• A minimum down payment equal to 3% of the sales price, which amount shall be contributed from the borrower’s personal resources or amount may be gifted.
• Maximum loan amount is up to $75,000
• Buyers must attend a MHDC Homebuyer Class.
• Fico score must be a 620 or better
Household Sizec | Maximum Income Los Angeles County |
1 | $77,700 |
2 | $88,800 |
3 | $99,900 |
4 | $110,950 |
5 | $119,850 |
6 | $128,750 |
7 | $137,600 |
8 | $146,500 |
We Make it Easy For You - Click on these links to learn more!!
