Homebuyer's Assistance Program (HAP)
The program helps homebuyers by providing financial
assistance with low a interest loan for down payment and
closing costs. The maximum loan amount is $10,000.
Qualifying Income Limits:
| Household Size |
Household Income |
| 1 |
$34,250 |
| 2 |
$39,150 |
| 3 |
$44,050 |
| 4 |
$48,900 |
| 5 |
$52,850 |
| 6 |
$56,750 |
| 7 |
$60,650 |
| 8 |
$64,550 |
- Homebuyer must currently live in the City of
Modesto, or in the sphere of influence with a
Modesto address during the last six consecutive
months, or be employed in the Modesto city limits
for the past six consecutive months.
- Homebuyer's FICO (Fair Isaac Company) credit
score must be 610 or higher.
- Homebuyer must provide a minimum initial
investment of 1.75% of the sales price.
- No monthly payments are required during the 30-year term of the loan.
- Repayment required only upon the sale, refinance,
transfer or rental of the property or maturity of
the loan.
| Download |
| HAP Guidelines |
View |
| Application for Lender |
View |
For more information, call (209) 577-5311 or e-mail housing@modestogov.com.
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