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First Time Homebuyers Program Financing Available

Thanks to CalHome Reuse funds, the City of Visalia has limited “Gap Financing” available for First Time Homebuyers.

CalHome Reuse funds are allocated to assist very-low to low-income households to purchase a home within the city limits of the City of Visalia. These funds will provide the eligible borrower with a 30-year term second mortgage loan at 3% simple interest. 

Clients must be first time home buyers, meaning they cannot have owned a home within the preceding three years, or they must meet the definition of a displaced homemaker or single parent. Family income must be less than 80% of the area median income, no open derogatory credit allowed and prospective homebuyers cannot have bankruptcies within the last two years.

Interested, prospective homebuyers can request an information packet by calling the City of Visalia's Housing and Community Development Block Grant Division at (559) 713-4337.

Realtors & Lenders who would like to ‘certify’ for the program, get additional details here.

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