First time homeowners looking to purchase a home in Clovis may now qualify for financial assistance under the City’s relaunch of their “first time homebuyer program.”
The City of Clovis announced Tuesday, July 19, that their financial assistance program called the “first time homebuyer program” would now be returning.
The “first time homebuyer program” would provide financial assistance to eligible low income homebuyers through the form of a “silent second” mortgage loan.
The loan would serve as gap financing with no payments due, as long as you remain living in the home and keep the home in “good condition,” according to information from the City of Clovis.
Applications for financial assistance to eligible low income homebuyers are now open to those who are eligible.
Under the financial assistance of the “first time homebuyer program” offered by the City of Clovis, applicants must meet the following requirements to be eligible:
- Be a first time home buyer
- Home must be located in Clovis, CA
- Home must be primary residence
- Family income at or below 80% of median
Those who are ready to purchase their first home in Clovis through the program must also qualify for a primary mortgage through one of the City’s approved lenders from their 2022 approved lenders list.
Those who are pre qualified through a primary lender will also have to contribute 1% towards the purchase price of the home and “be ready” to purchase a home in Clovis.
Applicants who qualify for financial assistance through the “first time homebuyer program” offered by the City will have their application documents prepared for submission to the City of Clovis.
For more information contact (559)324-2060 or email housing@cityofclovis.com and for more information on the “first time homebuyer program” you can visit their website to view eligibility and program requirements online at CityOfClovis.com/AffordableHousing and click on the first time home buyer link.