First Time Homebuyer Loan Programs

California Forgivable Equity Builder Loan

The State of California has launched a new program of forgivable loans for first-time home buyers. The program, Forgivable Equity Builder Loan, allows qualified, first-time buyers to borrow up to 10% of a home’s purchase price, and have the debt forgiven if the buyer lives in the home for five years. The loans are available to middle-income families making less than 80% of their county’s annual median income, below $120,000 in all Bay Area counties. For more information, visit the California Housing Finance Agency website.

City of Dublin First Time Homebuyer Loan Program (FTHLP)

The FTHLP provides financial assistance in the form of a deferred loan, for income-qualified first-time homebuyers who are in the process of buying a home in Dublin.

Loan Features

Loans are available for both market rate and below market rate (BMR) homes. Key features include:

Term	BMR Homes	Market Rate Homes
Loan Amount	Up to 15% of the purchase price, with a maximum of $40,000	Up to 10% of the purchase price, with a maximum of $40,000
Interest Rate	3.5% simple interest
Loan Term	30 years, deferred payment

Eligibility Requirements

Household eligibility requirements include but are not limited to:

Requirement	Description
Maximum Income	Total household income must be at or below the current moderate-income level. The maximum income is established annually and is adjusted for household size. For 2022, the maximum incomes are:   1-person: $119,950       2-person: $137,100 3-person: $154,200 4-person: $171,350 5-person: $185,050 6-person: $198,750 7-person: $212,450 8-person: $226,200
First-Time Home Buyer	No member of the household may have owned real property for the past three years.
Down Payment	Applicants must provide a minimum of 3.5% of the sales price as a down payment.
Primary Loan Qualification	Applicants must be pre-approved for a primary loan that conforms to City requirements (30 or 40 year fixed-interest). The City's FTHLP loan will be secondary to this primary loan.

Review the FTHLP Program Guidelines for more information.

How to Apply

To apply for the FTHLP, contact the City of Dublin Housing Division 925-833-6610 or by email for a link to our online application similar to the  application packet. 

First Time Homebuyer Loan Program Agreements - Below Market Rate Properties

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• Deed of Trust Assignment of Rents Fixture Filing and Security Agreement
• Loan Occupancy Refinancing and Resale Restriction Agreement with Option to Purchase
• First Time Homebuyer Program Promissory Note

Contact the Housing Division at 925-833-6610 or submit a question or comment.