PiggyComing up with a down payment, which can be tens of thousands of dollars, can be a challenge. Let Springboard Home Loans eliminate this obstacle with our down payment and closing cost assistance programs. We offer an array of down payment loans to help first time home buyers. All of these programs have income restrictions based on Area Median Income (AMI) and require attendance at an 8-hour HUD-approved Home Buyer Class. Take a look at the programs below, and contact a loan officer for more information.

Available Programs

*The following programs represent our current offerings. These programs may change or become unavailable at any time without notice. Additional restrictions & requirements apply.

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Up to $60,000 toward your down payment. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% of the Area Median Income. Can be used anywhere in the state of California.

 

HouseCity of Los Angeles (LIPA)

Up to $60,000 toward your down payment and closing costs for the purchase of a property in the City of Los Angeles. Payments are deferred for 30 years. Must earn no more than 80% of the Area Median Income.

 

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A Mortgage Credit Certificate provides a tax credit, reducing your federal income tax liability by up to 20% of the interest paid on your home loan, and increasing your overall buying power. Available anywhere in the state of California.

 

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City of National City (FTHB)

Up to $70,000 in gap financing is available for the purchase of a home in National City, California. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% of the Area Median Income. Learn more…

 

City of Riverside

Up to $50,000 towards your down payment for a home in Riverside. 3% simple interest with payments deferred for 30 years. Must earn no more than 80% AMI and purchase in the City of Riverside.

 

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WISH

Up to $15,000 in down payment funds provided at a 3:1 match and FULLY FORGIVEN after 5 years. Must earn no more than 80% of the Area Median Income. Available anywhere in the state of California.