Call 1-800-735-2929 or 1-866-735-2922 TTY. Alternate formats of this information is available and assistance will be provided by contacting the Human Resources Department at 559-661-5401.

                                 

* THE WAITING LIST IS CURRENTLY CLOSED UNTIL FURTHER NOTICE *

First Time Homebuyer Program (FTHB) 

• Homes purchased must be within the city limits of Madera
• Homes must be buyer’s principal residence
• A first time homebuyer is one who has not owned a home in the past three years
• Must have annual family income that does not exceed 80% of the Madera County Area Median Income based on family size (click here for Income Limits 2009).
• Must have completed a Home Ownership Class and have a certificate.  The Home Ownership classes may be taken with The Madera Housing Authority give them a Call at 674-5695 for Schedule of the Home Ownership Classes.  Another agency offering the classes is By Design in Fresno, for a schedule, and to register call them at 455-5529.
• DAP loans are deferred, interest-free, must be fixed rate 30-year loans with no mandatory monthly payments
• DAP loans are due and payable in full upon sale, transfer of title, or upon repayment or refinancing of the primary loan that increases the amount of the primary loan
• The DAP provides up to $75,000 per family to cover the closing costs and downpayment difference between the required contribution at the close of escrow that is equivalent to one month of the family's annual income, and the amount of a 1^st mortgage loan that the family must qualify for from a lender
• Eligible sales price of homes for DAP does not exceed FHA Mortgage limits (currently at $323,00 as of March 2009)
• Homes built before 1978 must have a lead based paint and Housing Quality Standards inspections and if needed, all lead based paint and sub-standard building code issues must be corrected prior to purchase