The City of Santa Ana is pleased to announce the availability of financing to provide income-qualified Santa Ana residents an opportunity to become first-time homeowners.
A homebuyer informational meeting will be held on Thursday, Feb. 27, at 6 p.m. in the City of Santa Ana Council Chambers, 22 Civic Center Plaza, Santa Ana.
The program is funded through the City of Santa Ana Inclusionary Housing Fund and Community Development Block Grant program. The program offers zero percent interest, deferred payment loans of up to $80,000 for Low Income Households and up to $40,000 for Moderate Income Households.
Eligibility Requirements:
• Borrower(s) must be a resident of Santa Ana and/or work in Santa Ana at least 32 hours per week for at least the last 6 months.
• Must be pre-qualified for a first mortgage
• Must be a first-time homebuyer
• Must make a down payment of at least 3% from own funds
• Must complete the Homebuyer Counseling Program through NeighborWorks of Orange County
• Home must be located in Santa Ana
• Total annual income of the household cannot exceed the income limits provided below:
Household Size……..Low Income…………….Moderate Income
…….1………………….$66,500……………………….$82,250
…….2………………….$76,000……………………….$94,000
…….3………………….$85,500……………………….$105,750
…….4………………….$94,450………………………$117,500
…….5………………….$102,550………………….….$126,900
…….6………………….$110,150……………………..$136,300
…….7………………….$117,750……………………..$145,700
…….8………………….$125,350……………………..$155,100
To learn more about Santa Ana’s Down Payment Assistance Loan Program, please call 714-667-2250 or visit https://www.santa-ana.org/residents/homeowners-renters/housing-development/down-payment-assistance-loan-program
