Riverside County’s ARPA FTHB Down Payment Assistance Program | Up to $100K in DPA!!! - Jermaine Antonio Gill

Hi there, Jermaine Antonio here, your Greater Palm Springs Realtor®! Are you dreaming of owning your first home but finding the down payment daunting? If you’re a resident of California’s Fourth District, there’s some exciting news for you! Riverside County has launched the ARPA First-Time Home Buyer (FTHB) Program, designed to help low- to moderate-income individuals and families take that crucial step toward homeownership.

What is the ARPA Down Payment Assistance Program?

This program is a lifeline for first-time homebuyers who meet specific income requirements. It provides financial assistance for down payments, making it easier for you to purchase your dream home. Here’s how the program can help:

Generous Down Payment Assistance: The program offers up to 20% of the purchase price of your new home, with a maximum of $100,000. Even better, $10,000 of this amount can be applied toward closing costs, easing the financial burden.

Silent Second Mortgage: The assistance comes in the form of a silent second mortgage. This means no payments or interest are required, and after 15 years, the loan is fully forgiven—turning it into a grant!

Lower Monthly Payments: By reducing the amount you need to borrow, the program also helps you secure lower monthly mortgage payments.

Who Qualifies?

To be eligible for this incredible opportunity, you must meet the following criteria:

1. Be a first-time homebuyer.

2. Qualify for a first mortgage loan with an approved lender.

3. Plan to purchase a home in one of the following Fourth District cities: Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, Rancho Mirage, or any unincorporated area within the district.

4. Be a U.S. citizen or a qualified resident.

5. Have a gross income that does not exceed 120% of the median income, which varies by household size (see the income limits below).

Don’t let the dream of homeownership pass you by—this program is an exceptional opportunity to make your dream a reality. The ARPA FTHB Program could be your key to opening the door to your new home.

Reach out today, and I’ll connect you with one of my trusted lenders who can help determine your eligibility for the program!