Assistance Type and Terms
Grants to local public agencies and nonprofit developers to assist individual first-time homebuyers through deferred-payment loans for downpayment assistance, home rehabilitation, including manufactured homes not on permanent foundations, acquisition and rehabilitation, homebuyer counseling, self-help mortgage assistance, or technical assistance for self-help homeownership. All funds to individual homeowners will be in the form of loans.
Direct, forgivable loans to assist development projects involving multiple ownership units, including single-family subdivisions.
Loans for real property acquisition, site development, predevelopment, construction period expenses of homeownership development projects, or permanent financing for mutual housing and cooperative developments.
Project loans to developers may be forgiven as the loans convert into deferred payment loans to individual homeowners.
Assistance to individual households will be in the form of deferred-payment loans payable on sale or transfer of the homes, or when they cease to be owner occupied, or at maturity.
Note: CalHome does not lend directly to individuals.