Home - Government - Development Services - Housing Division
First-time Homebuyers

City of Alhambra
FIRST-TIME HOMEBUYER PROGRAM  

Join the ranks of home ownership if you meet the income & eligibility requirements listed 
below by calling the Development Services Housing Division at
 626-570-5037


INCOME & ELIGIBILITY REQUIREMENTS
  1. Must be a City of Alhambra resident for two consecutive years at the time of application.
  2. Must be a United States Citizen or Legal Permanent Resident.
  3. Must have 2% of the purchase price available toward your down payment.
  4. Must not have owned any real property within the United States within the past 3 years.
  5. The assisted property must be the Buyer's principal place of residence.
  6. The purchased property must be located within the City of Alhambra.
  7. The property must remain affordable for 15 years.
  8. Down-payment assistance loan of $75,000.

INCOME LIMITS (Based on Household Size)
1-Person
Household
2-Person
Household
3-Person
Household
4-Person
Household
5-Person
Household
6-Person
Household
7-Person
Household
8-Person
Household
$50,500 $57,700 $64,900 $72,100 $77,900 $83,650 $89,450 $95,200
 
THE FIVE STEPS TO BECOMING A FIRST-TIME HOMEBUYER
STEP ONE

COMPLETE AND SUBMIT THE PREQUALIFICATION WORKSHEET:

  • Click here for qualification information, then call  626-570-5037 if you are eligible and would like to receive an application. Also call 626-570-5037 if you need an application in Spanish or Chinese.
  • After completing, mail your application to the City of Alhambra-Housing Division, 111 S. First St., Alhambra, CA 91801, or drop it off at the Development Services Department.
STEP TWO

SUBMIT COMPLETED FIRST-TIME HOMEBUYER'S APPLICATION:

  • Include all supporting documentation. Failure to do include all documents requested will suspend the review process until all documents are received.
  • This step includes attending a homebuyer workshop to become knowledgeable about the homebuying process.
STEP THREE

FIND A HOME YOU ARE INTERESTED IN AND MAKE AN OFFER:

  • Search for a lender, a realtor or broker and begin shopping for your home!
  • Prior to making an offer, contact the City of Alhambra Housing Division for a thorough inspection of the property.
STEP FOUR

OPEN ESCROW:

  • Once your offer has been accepted, you'll need to request a Certified Home Inspection and provide a copy of the report to the City of Alhambra-Housing Division.
  • Receipt of the First-Time Homebuyer Agreement reserving City funds will be provided only after the applicant has submitted all proper documentation.
STEP FIVE

CONGRATULATIONS:

  • You are a FIRST-TIME HOMEBUYER!
 

RELATED RESOURCES

 

LOCAL LENDING INSTITUTIONS:

  1. Bank of America Online Home Loan Info., Local Branch Locations: 160 E. Main St. & 444 E. Valley Blvd.
  2. Bank of the West Online Home Loan Info., Local Branch Location: 100 S. Garfield Ave.
  3. California Bank & Trust Online Home Loan Info., Local Branch Location: 230 E. Valley Blvd.
  4. Cathay Bank Home Online Loan Info., Local Branch Location: 601 N. Atlantic Blvd.
  5. Chase Home Finance Online Home Loan Info., 39 S. Garfield Ave.
  6. Citibank Online Home Loan Info., Local Branch Location: 1 West Bay St.
  7. East-West Bank Online Home Loan Info., Local Branch Location: 1881 W. Main St & 403 W. Valley Blvd.
  8. Lockheed Credit Union Online Home Loan Info., Local Branch Location: 900 S. Fremont Ave.
  9. Omni Bank Online Home Loan Info., Local Branch Location: 1235 S. Garfield Ave.
  10. Public Works Credit Union Online Home Loan Info., Local Branch Location: 900 S. Fremont Ave.
  11. The Bank of East Asia Online Home Loan Info., Local Branch Location: 1138 S. Garfield Ave.
  12. United Commercial Bank Online Home Loan Info., Local Branch Location: 345 W. Valley Blvd.
  13. Wells Fargo Bank Online Home Loan Info., 345 E. Main St. and 123 S. Chapel Ave.
Related Link
Copyright ©2017 City of Alhambra
All rights reserved
Home   |   Government   |   Residents   |   Business   |   Community Life   |   About Us   |   Contact Us
Agendas & Minutes   |   News