Aid for First-Time Home Buyers Offered

Low- to moderate-income couples buying their first home can apply for down-payment aid from the city of Fillmore beginning this week.

The city’s Redevelopment Agency will fund 15%, or $25,000, whichever is less, toward the price of a home for qualified applicants.

Home buyers must contribute 5% toward the home and the traditional 3% closing costs. For example, the cost would be about $12,000 for a $150,000 home, according to Vance Johnson, Fillmore’s housing programs specialist.

The Redevelopment Agency will carry a second deed of trust; borrowers don’t need to make payments on the second loan unless they sell their house, Johnson said.

If the buyer remains in the home for 30 years, the loan will be forgiven, he said.

The applicant must secure funding from a recognized lender for the first mortgage before receiving money from the city agency. Eligible applicants must be a family of two or more who never have owned a residential property. Priority will be given on a first-come, first-served basis to applicants who have lived or worked in Fillmore for at least a year.

The program covers single-family homes that meet state health and safety codes within Fillmore city limits.

Interested buyers can get applications at the City Hall planning office through Aug. 8.

Johnson said the city hopes to help 16 families buy homes with almost $375,000 this year.

The next down-payment cycle should begin next February.

Questions should be directed to Johnson at (805) 524-1500, Ext. 109.