first time home buyer grant

Long Beach California First Time Home Buyer Grant: Empowering Long Beach Residents

Are you a resident of Long Beach California looking to purchase your first home? You’re in luck! Long Beach California offers a first time home buyer grant that provides assistance of up to $25,000 to eligible applicants. This program aims to assist low- and moderate-income families and first-time homebuyers in achieving their dream of homeownership.

Eligibility Criteria

To be eligible for the program, applicants must meet certain requirements:

  • Be over 18 years old
  • Be a first time home buyer
  • Be a first-generation homebuyer
  • Be a current resident of the City of Long Beach California
  • The purchased property can be a single-family home, townhome, or condo in Long Beach California
  • Be pre-approved by a lender for a 30-year fixed mortgage loan
  • Have liquid assets not exceeding $100,000 in the bank account after closing escrow

Household Income Requirements

Annual household income should not exceed 200% of the L.A. County Area Median Income:

Home Purchase Requirements

Qualified applicants must:

  • Agree to occupy the home as their primary residence for a minimum of five years
  • Have an escrow period of at least 30 days
  • Be represented by a licensed realtor in the home-buying process
  • Property can be a single-family home, townhome, or condo in Long Beach California

Grant Usage

The grant can be used for:

Application Process

City officials review applications on a first-come, first-served basis. Successful applicants will receive a notice of Program Qualification. You can submit your application HERE.

Related Read:

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