The City of Greenfield Home Buyer Program is designed to provide assistance to eligible home buyers in purchasing homes located within the City of Greenfield.

The Program provides this assistance in the form of deferred payment "silent" second priority loans as "Gap" financing toward the purchase price and closing costs of affordable housing units that will be occupied by the home buyers as their primary residence.

Income Qualification Criteria

Projected annual gross income of the applicant household will be used to determine whether they are above or below the published HCD income limits Household income is the annual gross income of all adult household members that is projected to be received during the coming 12-month period, and will be used to determine program eligibility.

There is no asset limitation for participation in the Program. Income from assets, however, is recognized as part of annual income.

Eligible Home Buyer

An eligible home buyer means an individual or individuals or an individual and his or her spouse who meets the income eligibility requirements and is/are not currently on title to real property.

Home Buyer Costs

Eligible households will be required to document that they have the funds necessary for down payment and closing costs as required by the Primary Lender and the City.

You must contribute a minimum down payment of 1% of the purchase price, but may contribute more if desired. City will not provide a subsidy that is greater than $50,000.

Income Limits for the Area by Household Size

You will be required to certify that they meet the household income eligibility requirements for the applicable HCD program(s) and have their household income documented.

The income limits in place at the time of loan approval will apply when determining applicant income eligibility. All applicants must have incomes at or below 80% of the County's area median income (AMI), adjusted for household size, as published by HCD.

An eligible home buyer is an individual or individuals or an individual and his or her spouse who meets the income eligibility requirements and is/are not currently on title to real property.

If funds are no longer available, or you are unable to meet the qualifications for this assistance program, there are other options that may be available to you.

California home buyers should also explore Mortgage Credit Certificates, CRA Programs, Lender/Agent Credits or other creative down payment and closing cost assistance options.