First Time Home Buyer orientations are held the second Wednesday of every month, at 6:30 p.m. at JFK library 505 Santa Clara Street.
First Time Homebuyer Program
Community Housing Development Corporation (CHDC) administers the loan packaging for approval for the City's First Time Homebuyer Program.
An applicant must complete an 8-hour HUD approved homebuyer class, or document that they have completed the equivalent class within the last 2 years. HUD approved classes may be completed in person or online.
Step 1: Intake and Education
Applicants must submit a completed intake form and required supporting documents, to Community Housing Development Corporation (CHDC) to initiate the homebuyer process. Once the documentation has been received by CHDC, and the homebuyer class completed, an appointment will be scheduled with a Housing Counselor to determine program eligibility.
Step 2: Counseling
The Housing Counselor/Lending Specialist will guide the applicant through the approval process. The Counselor will make the initial determination of program eligibility of the applicant. Once program eligibility is determined the Counselor's goal is to ensure loan affordability, sustainable/affordable home ownership based on the City's underwriting guidelines, educate the applicant on the homebuyer process, reviews the buyer's package 1st loan documents, and prepares the file for final submission to the City for approval.
Step 3: City Review and Closing
The City will review the applicant homebuyer file, and confirm program eligibility for approval. Once approved, the City will issues an approval and forward City loan documents and funds to escrow for the escrow closing.
Community Housing Development Corporation (CHDC)
Down Payment Assistance Underwriting Guidelines