First-Time Homebuyer

The Lake County Housing Administration Office administers the First-Time Homebuyer Program and Owner Occupied Rehabilitation Programs from its office in Lower Lake.  These programs are partially financed by grants from the California Department of Housing and Community Development using federal HUD resources of Home and CDBG.  Additional funding for theses two programs comes from repayment of loans from past participants and a limited amount of Redevelopment Agency resources.

The First Time Home Buyer Assistance Program is aimed at providing financial support to families who might otherwise be unable to purchase a home. The funds for this program are provided through the California State Department of Housing and Community Development (HCD) and Department of Housing and Urban Development (HUD).

Program Qualifications

Household income cannot exceed 80% of Lake County’s Median Income adjusted annually for household size. See the attached table as a guide to determine qualification.

  1. Applicants must be residents of Lake County.
  2. Maximum loan is 50% of the purchase price.
  3. Maximum purchase price limit is based on housing regulations. Call for details.
  4. Applicant cannot have owned a home in the past three years (certain exceptions apply).
  5. Applicant must be able to qualify for a first mortgage loan.
  6. Funds will be used to provide deferred second mortgages.
  7. Applicants may be required to pay minimal fees.


Applicants will receive a deferred payment loan secured by a second deed of trust.

Loan Conditions

  1. The deferred mortgage will accrue simple interest at 2% for a maximum of 45 years.
  2. Home resale restrictions apply.


  • The application will be screened for basic eligibility requirements.
  • When the applicant has secured a home to purchase and received the primary loan approval, the Lake County Loan Committee shall grant final approval of its loan.

The program description in this handout is only to provide basic information. The subsequent loan documents issued through this program contain the legal language that outlines the borrower’s responsibility under the loan program.

To view Income Table click this link:  2016 Income Table

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For More Information, Please Call