Banning | California Down Payment Assistance

Apr
26
2008

Neighborhood Housing Services of the Inland Empire (NHSIE) - NeighborWorks City of Banning First Time Home Buyer Assistance Program

Program Highlights

County:	San Bernardino
Agency:	NHSIE
Web-Site:	Link to Agency Web Site
Contact e-Mail:	Request More Information
Contact Us:	(866) 667-6724
How to Qualify:	Inquire Here
Eligible Homes for Sale:	Search using Listingbook

Program Description:	Down Payment Assistance Loan
Maximum Purchase Price:	Can not exceed Area Median Sales Price
Income Restrictions:	Yes
Requires Repayment:	Forgiven after 30 Years
Requires Matching Funds:	No
Eligible 1st Loan Terms:	30 Year Fixed Rate / Fully Amortized
Eligible 1st Loan Types:	FNMA, FHLMC, CalHFA, FHA
Ineligible 1st Loan Types:	N/A

Program Summary

First Time Home Buyer Down Payment Assistance is available for First Time Home Buyers within the city limits of Banning. Down Payment Assistance is a silent second at 0% interest that is forgiven after 30 years.

Program Details

Eligible Buyers: First Time Home Buyers - Can not have owned a home in past 3 years

Maximum Assistance: $20,000

Income Limits: 120% of Area Median Income - Income Limits Here

Payments/Recapture: If family rents, sells or refinance with cash-out before Tenure of Ownership, second becomes immediately due and payable to the City of Banning

Eligible Properties: Family must purchase an existing single family detached home. Condominiums, manufactured homes on a permanent foundation & town homes are permitted.

Eligible Cities/Areas: City limits of Banning

Contribute Home Buyer Comments: Please keep this site up to date and relevant by making comments if you have used this program or are in the process of using it now. By sharing this information it helps all Home Buyers stay informed and up to day.