The City of Grass Valley’s has available funding to provide down payment assistance to qualified low-income potential home buyers. This program is separate from the County’s and offers agents and their clients an additional funding source to access.
The City’s First Time Home Buyer Program, funded through the State of California Department of Housing and Community Development HOME Investment Partnerships Program, can provide gap assistance to qualifying individuals and families. Gap assistance enables these potential homeowners to borrow part of their down payment and/or closing costs from the City of Grass Valley through the HOME Loan Program. To be eligible, applicants must meet the following requirements:
- Be a first-time home buyer, which is defined as an individual who has not owned a home during the three-year period before the purchase of a home with subsidy assistance.
- The home being purchased cannot exceed a purchase price of $246,000.
- The home being purchased must be located inside the city limits of Grass Valley.
- Meet the program income eligibility, based on the U.S. Department of Housing and Community Development standards, developed for Nevada County/Grass Valley by size and income as follows:
Family size 1 2 3 4 5 6
Max. Income $38,650 $44,200 $49,700 $55,200 $59,650 $64,050
Please have interested applicants contact Beth Owens, City of Grass Valley Housing Technician, at (530) 274-4344 or beth@cityofgrassvalley.com for more information regarding the application process
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