WHAT IS THE HOMEBUYERASSISTANCE PROGRAM?

The City of Dinuba’s HomebuyerAssistance Program offers affordablesecondary mortgage financing to first-time homebuyers.

The Program is designed to providethe additional financing needed tokeep a first mortgage paymentaffordable.

The City’s Loan will not exceed 49% oftotal financing or limits listed below(whichever is less):

The City’s Homebuyer Assistance loanwill be secured by a second Deed ofTrust .

*0% Deferred Loan Payment; Due afterthe term of the primary’s loan years,plus an additional 15 years

*Loan amount will not be more thanfirst mortgage

ELIGIBILITY REQUIREMENTS

Provide a minimal 1% downpayment

First-time homebuyers or

You have not owned a home in thelast 3 years

Qualify with a bank or mortgagecompany for a primary loan

Complete a FREE homebuyereducation course.

Gross annual income cannotexceed the following for familysize:

Full documentation and verification ofincome is required.

PROPERTY ELIGIBILITY

May be new construction or anexisting single family home.

Purchase price less than FHA 203bLoan Limit.

Located in the City Limits of Dinuba

Must be owner-occupied ORProperty must be vacant (from arenter) for at least 3 months.

House to pass health and safetyinspection from a certified homeinspector for Section-8 health andsafety.

Home must also meet the "modesthousing" requirements as defined bythe City of Dinuba.

TERMS OF PRIMARY LOAN

Monthly house payment cannotexceed 35% of the family’s grossmonthly income.

Housing payment plus other monthlydebts cannot exceed 42% of family’sgross monthly income.

Family Size Annual Income1 $32,0502 $36,6003 $41,2004 $45,7505 $49,4506 $53,1007 $56,7508 $60,400

Effective 07/13/11

Maximum Loan1 Bedroom $128,2602 Bedrooms $155,9643 Bedrooms $201,7664 Bedrooms $221,478

● Zero Interest ● Zero Payments