First Home Mortgage Program

The First Home Mortgage Program was created by the Southern California Home Financing Authority, an authority between Los Angeles and Orange Counties. The Los Angeles County Community Development Commission (CDC) and the Public Finance Division of the County of Orange both oversee the program.

Assistance funds are offered in the form of a grant for up to 4% of the mortgage amount. These funds can be used to help cover the costs of the down payment and/or closing. This grant does not need to be paid back.

In addition to this program, applicants can also utilize the Home Ownership Program and/or the Mortgage Credit Certificate Program.

Applicants must be working with a participating lender in order to receive assistance. Applicants must also have a credit score of at least 640, and a debt-to-income ratio no more than 45%. A homebuying education class must be finished, and a certificate of completion attained with a date not more than 12 months prior to closing.

New and existing houses in Orange and Los Angeles counties (but not in the City of Los Angeles) are eligible for this program, providing they meet the purchase price limits, which as of 2020 are:

  • Existing Homes in Non-Targeted Areas: $585,713
  • New Homes in Non-Targeted Areas: $585,713
  • Existing Homes in Targeted Areas: $715,872
  • New Homes in Targeted Areas: $715, 872

The total annual household income limits for the program for 2020 are as follows:

For Los Angeles County:

1- 2 person household: $108,120
3 or more person household: $126,140

For Orange County:

1- 2 person household: $125,160
3 or more person household: $146,020

Other programs in California:

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