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A first-time home buyer is considered anyone who has not owned a home in the past three years.
Additionally, these programs allow others outside this definition to be considered as first-time homebuyers:
For the HOME/CalHome program, applicants must have incomes at or below 80% of Napa County’s area median income (AMI), adjusted for household size. See the following charts for specifics:
Income Limits for HOME and CalHome Programs
Number of Persons in Household
80% of AMI
The CalHome Disaster Assistance funding applicants must have incomes at 120% of Napa County’s AMI, also adjusted for household size. See the following charts for specifics:
Income Limits for CalHome Disaster Assistance
120% of AMI
For HOME and CalHome General Program funded-loans, the maximum amount the program will loan is $150,000 or 30% of the housing unit’s purchase price, whichever is less.
For the CalHome Disaster loans, the maximum amount the program will loan is $100,000.
However, if a household has an income of 80% of Napa County’s area median income and has been impacted by a qualifying disaster, they could be eligible to receive both loans for a maximum combined loan of $250,000.
All homes must be owner-occupied by the homebuyer/loan recipients as their primary residences.
The 2017 Wine Country fire, the 2017 Napa Complex fire, the 2017 Tubbs/Atlas fires, the 2018 River, Ranch and Steele fire and other federally-declared disasters in Napa, Butte, Lake, Los Angeles, Mendocino, Nevada, Orange, San Diego, Santa Barbara, Shasta, Sonoma, and Ventura Counties.
A single-family home or condo would require a 1% interest rate with a 30-year loan. No monthly payments are required.
A manufactured or mobile home would have a 0% interest rate on a 20-year forgivable loan. Ten percent of the principal of the loan would be forgiven each year beginning on the 11th anniversary of the date of the loan. No monthly payments are required.
The loan amount plus any accrued interest would all be due and payable when the home is resold, the loan recipient is no longer the primary resident of the home or the maturity date of the loan has passed.
Housing units purchased must be located within the city limits of Napa. Any housing unit must be in compliance with State and local codes and ordinances. New or previously-owned single-family residences, condominiums are all eligible. For loans made with CalHome funding, manufactured or mobile homes are also eligible.
For HOME Program funded loans, the purchased home must be owner-occupied, vacated by the owner-occupant or vacant for at least 90 days if it was previously occupied by a tenant. The funds may also be used if a tenant is purchasing the rental unit they are currently renting.
Visit https://www.cityofnapa.org/200/Homeownership-Compradores-de-Casa or contact our housing specialist, Jonathen Sakamoto, at (707) 257-9254 or [email protected].