Burbank Housing offers a program for downpayment assistance for qualified buyers in Sonoma County.
Here's how it works:
✅ Gap financing for single family homes (including condos and townhomes) throughout Sonoma County
✅ Program is available to first time homebuyers (Not having owned in 3 years)
✅ Buyers must meet income eligibility requirements
✅ Program offers up to 40% Down, up to $200,000 of down payment assistance
✅ No monthly payments / assistance deferred for 30-years with a 2% interest rate / APR
✅ Can be used in conjunction with other down payment assistance programs
The funding is available only to buyers who have been prequalified by a mortgage lender and are actively looking to purchase a home. The funds are available on a first come first serve basis for buyers and are made available at the close of escrow.
To be eligible to apply, applicants must:
✅ Meet the income criteria
✅ Have a lender pre-qualification letter
✅ Be in contract or actively looking to purchase a home
✅ Interested applicants must attend a course with Burbank before applying for the program. Visit
burbankhousing.org/homeownership/downpayment/ for calendar of events & register today!
Email
[email protected] for more information.