If you’ve been thinking about buying your first home but felt discouraged by rising prices or down payment requirements, this update is for you.
HUD just released new Area Median Income (AMI) limits—and that means more buyers in Southern California now qualify for down payment assistance programs. One of my lending partners just announced a limited-time program offering a $7,000 lender-paid credit for qualified buyers in San Bernardino, Riverside, Los Angeles, Orange, and San Diego counties.
âś… No repayment required
âś… No lien on the home
âś… Shows up as a lender credit on your Loan Estimate and Closing Disclosure
âś… Bonus: Better loan terms & reduced PMI through Fannie Mae
Let’s break it down:
🔍 Who Qualifies?
To be eligible, buyers must earn under 80% of their county’s Area Median Income (AMI). Here are the current income limits and estimated max home prices:
| County | Income Limit (80% AMI) | Approx. Max Home Price |
|---|---|---|
| San Bernardino | $83,120 | $465,000 |
| Riverside | $83,120 | $465,000 |
| Los Angeles | $90,800 | $508,000 |
| Orange County | $90,800 | $508,000 |
| San Diego | $104,640 | $585,000 |
đź’ˇ Real-World Example
Let’s say you’re buying a $465,000 home in San Bernardino County using a 3% down payment conventional loan:
- 3% down = $13,950 normally required
- With the $7,000 lender credit, you now only need $6,950 + closing costs
That’s a game-changer for many buyers.
đź’¸ Bonus Benefits
In addition to the down payment help, buyers under the income cap also get favorable conventional loan pricing:
- Lower interest rates (as low as 6.50% currently)
- Reduced or no pricing adjustments
- Lower private mortgage insurance (PMI) costs
🤝 How to Get Started
If you or someone you know is:
- Renting and ready to buy
- Struggling to save for a down payment
- Looking at homes under $585,000
- Living in San Bernardino, Riverside, LA, Orange, or San Diego County
…then let’s talk.
We can connect you with the lender offering this program and run numbers for your specific situation. It’s fast, easy, and this money does NOT need to be paid back.
đź“ž Ready to take the next step?
Schedule a call with me or message us directly and let’s see if this $7,000 boost can help you into a home sooner than you thought possible.
—
Rob St Onge
DRE #01914112
The Rob & Kristi Experience | First Team Real Estate
đź“ž 909-200-9102
📧 rob@realtydude.com
