Homebuyer Assistance Program
The City of Menifee is excited to announce the launch of its first ever down payment assistance effort - the Menifee Homebuyer Assistance Program!
Thanks to the Building and Jobs Act (SB2), which was passed in 2017, the City of Menifee will now receive annual funds from the State of California’s Permanent Local Housing Allocation (PLHA). This law established a $75 recording fee on all real estate documents to fund the PLHA program, which provides funds to increase affordable housing stock across the state.
The allocation provided to Menifee allows the City to create this new program to support Menifee homebuyers. Based on current estimates, the City of Menifee’s allocation for the first program cycle will be more than $1.2 million between 2019 and 2023. The City looks forward to using these funds to support local homebuyers.
Homeownership Opportunity
The City of Menifee will use funds for Down Payment Assistance
- $15,000 max interest-free loans
- 15 years deferred
- Buyers must pay back the City if they move, sell, transfer or refinance
- Cannot exceed 80% Area Medium Income (AMI)
Household Income Requirements:
Number of Persons in
Household: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
At or Below
(80%) Income Limits | $52,200 | $59,650 | $67,100 | $74,550 | $80,550 | $86,500 | $92,450 |
$98,450
|
The City of Menifee's First Time Homebuyer Assistance Program is being administered by the Neighborhood Partnership Housing Services (NPHS). Please refer to the NPHS website for application details.