$100k Down Payment

Time to Dive Into Your Own Home!

Attend our LAST CHANCE Homebuyer Workshop May 7th and 8th and Learn How!

Ready to take the plunge into new home ownership but the down payment required has kept you from diving in? We may be able to help. The Community Redevelopment Agency of the City of Compton has developed the First Time Homebuyers Program to provide financial assistance to individuals and families with the dream of homeownership. The financial assistance will consist of a Second Mortgage, which is in the form of a deferred Silent Second Deed of Trust loan. The loan works in conjunction with the first mortgages offered by participating lenders. An eligible household may receive mortgage assistance not to exceed $100,000 (for moderate income households). The Agency will determine the amount awarded to each household based on a Gap Financing Formula.

The First Time Homebuyers Program is limited to the availability of Federal Funds; as a result, the Agency may discontinue the acceptance of First Time Homebuyer applications at any time, due to the limited availability of Federal Funds.

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