Middle Income Down Payment Assistance Program

Frontwave Credit Union is making homeownership more accessible with the Middle-Income Down Payment Assistance Program. This initiative offers qualifying individuals and families a grant of up to $50,000 to help with down payment costs, bringing your dream of owning a home within reach.

Program Highlights

• Grant Amount: Up to $50,000
• Buyer Contribution: Minimum of $10,000 from your own funds or a gift from an eligible donor

Who’s Eligible?

To qualify, you must meet these requirements:

• Be a first-time homebuyer, as defined by HUD
• Have a household income between 80.01% and 140% of the Area Median Income (AMI) for your county, adjusted by household size
• Complete a HUD-approved homebuyer counseling program
• Plan to live in the property as your primary residence, with eligible properties including single-family homes, condos, manufactured homes or multi-unit homes with one owner-occupied unit
• Open escrow with a closing date within 60 days of requesting program funds
• Contribute at least $10,000 toward the purchase

Income Guidelines

Income limits vary by county and family size. For example:

• Riverside County: Household income must be between $31,200 and $82,000 for a family of four.
• San Bernardino County: Household income must be between $31,200 and $82,000 for a family of four.
• San Diego County: Household income must be between $45,450 and $121,250 for a family of four.

Check the HUD guidelines for your county or contact us to learn more.

Availability

Funds for the 2024 program year have been depleted, but we encourage you to check back for updates. For questions or future availability, reach out to us at 800.736.4500 x1716.

Let’s Get Started

Have questions? Want to prepare for the next funding cycle? Our team is here to help you navigate every step of the homebuying process. Call us at 800.736.4500 x1716, and let’s make your dream of homeownership a reality.

Dream big. We got you.