Visalia offers several programs and grants to assist first-time homebuyers. These initiatives aim to make homeownership more accessible, particularly for low- to moderate-income households. Key programs include:
- CalHFA Programs:
- The California Housing Finance Agency (CalHFA) provides low-interest loans and down payment assistance programs.
- Options like the MyHome Assistance Program offer up to 3.5% of the purchase price as a deferred-payment loan for down payment or closing costs.
- Golden State Finance Authority (GSFA) Programs:
- GSFA offers down payment assistance grants that do not need to be repaid.
- These programs are available to low- and moderate-income buyers.
- Local First-Time Buyer Assistance:
- The City of Visalia periodically offers homebuyer assistance programs funded through federal or state grants.
- These programs may provide down payment or closing cost assistance for qualifying buyers.
- Federal Programs:
- FHA loans are often combined with local grants to reduce upfront costs.
- VA loans are an excellent option for veterans and military families.
Prospective buyers should contact local housing authorities, nonprofit organizations, or real estate agents familiar with these programs to determine eligibility and application processes.