Get financial assistance for first time home buyers

City of Oakland, Housing & Community Development Information Status

The Oakland Housing & Community Development's CalHome Program offers loans to help income eligible, first time homebuyers with purchasing a home in the city of Oakland. The program lends the amount needed to afford a home, and this can be used to cover a portion of the property's downpayment. This loan is paid in 30 years (not monthly) or when the borrow sells, transfers, refinances the property, or converts the home to rental property.

Eligibility Requirements

Resident of Oakland, Must be a first-time homebuyer (some exceptions apply) and have an annual income that does not exceed 80% Area Median Income (AMI). Properties must be located in Oakland and not exceed the purchase price of $1,305,000., Adults (18+), Age: 18+

ADA accessible

Unknown

Citizenship Requirements

No citizenship requirements

Cost Details

There is a $262.50 application processing fee due once your home is under contract.

Cost or fees

Yes

Counties Served

Alameda

What to do next

Click to visit link - https://www.oaklandca.gov/.../attend-a-first-time-homebuyer-workshop

Visit the link to attend a home buyer education workshop. This is the first step of the program's application process. After finishing the workshop, you will receive a certificate of completion that will be used in the next step of the process.

Using the certificate from step one, contact a participating lender for a loan pre-approval and a program application. Afterwards, when you have a home under contract, the lender will reserve funds and coordinate application submission to the city.

Call 510-238-6201

Call for more information.

Email homebuyers@oaklandca.gov

Email for more information.

City of Oakland, Housing & Community Development

510-238-6201 (City of Oakland Homebuyer Programs)

homebuyers@oaklandca.gov

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Locations

This opportunity does not have a location or its location is private. This opportunity can be accessed in Oakland, California, USA.

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