Down Payment Assistance Program

The City of Rosemead has funds available to assist low income residents with the purchase of their first home. The assistance is in the form of a silent second loan (no payments until the loan is paid or until 30 years from the loan origination), and is available to low income families who have not owned a home within the previous three years. The amount of the loan will vary depending on the value of the house to be purchased to assist the homebuyer in achieving a 20% down payment. The maximum allowable loan will be $95,000.

One of the many challenges that a hopeful first-time home buyer faces is saving up enough money for a down payment. The City of Rosemead has a program to assist low income renters with the purchase of their first home through the City of Rosemead's Down Payment Assistance Loan Program. This is a great program where low income residents can receive up to $95,000 towards a down payment on a home. To qualify, the applicant must provide information to show they are income qualified, and purchase a home that is offered for less than $522,500 for single-family homes and $418,000 for condominiums.

The properties must be within the Rosemead City limits and meet basic Housing Quality Standards. Priority is given to applicants who live or work in the City of Rosemead. The possibility of being a homeowner is now one step closer for first-time buyers. For more information, please stop by City Hall or call Marcy Marquez, Housing Project Coordinator, at (626) 569-2119. Priority will be given to families currently living or working in the City of Rosemead and all income eligible families are encouraged to apply. To apply for this program, you may download an application here. For more detailed information click here or contact:

Marcy Marquez Housing Project Coordinator

(626) 569-2119

mmarquez@cityofrosemead.org

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