Learn essentials about four important Down Payment Assistance Programs in Riverside County

1. RIVERSIDE COUNTY HOMEOWNERSHIP ASSISTANCE PROGRAMS
NSHP RHP MCC FTHB
20% purchase price
15% of the interest on
assistance plus
20% of the purchase the first mortgage used
optional repair 20% of the purchase
price for down as tax credit
Assistance component not to price for down payment
payment not to (may be considered in
exceed $75,000 total not to exceed $75,000
exceed $75,000 calculating DTI for
(Min. $1500 repair
underwriting 1st TD)
assistance)
Unincorporated areas &
Cooperating Cities
Specific Target Areas Unincorporated All areas within
Excluding Calimesa,
in Participating Cities Areas & County Riverside County
Coachella, Corona,
Property Location and Unincorporated Redevelopment Excluding Banning,
Hemet, Indio, Moreno
Areas Project Areas Rancho Mirage, Palm
Valley, Palm Desert, Palm
(See Chart) (See Chart) Desert & Indian Wells
Springs, Perris, Rancho
Mirage, Riverside
Yes – Non MCC Target
First Time Buyer
area
Requirement Yes Yes Yes
No- MCC Target Area
(See Chart)
Outside Target Area:
$292,686 $450,000
Max Purchase Price $292,686 $292,686
Inside Target Area:
$550,000
Appraised value
Purchase price must Appraised value cannot
Appraisal cannot exceed
be 1% below No requirement exceed maximum
Restrictions maximum purchase
appraised value purchase price
price
Foreclosures Only
Eligible Property Single Family, condo Single family, condo, Single family, condo or
Single family, condo,
Types or new manufactured manufactured home new manufactured
manufactured home
home
* Restrictions Apply * Restrictions Apply * Restrictions Apply
Current Occupancy
if property is or was if property is or was No requirement if property is or was
Status of Property
tenant occupied tenant occupied tenant occupied
Age of Property Must be 1979 or No requirement No requirement No requirement
newer
Pool or Spa
Allowed Not Allowed Allowed Not Allowed
(in ground)
Minimum Number of
No Requirement 2 No Requirement 2
Bedrooms
Occupancy standard
Applies Applies No requirement Applies
2 per room plus 1
Available first come Available first come Available first come first
Funding Availability Available first come
first served first served served
first served
Funds subject to On-going until funds On-going until credit On-going until funds
Status of Program
availability exhausted exhausted exhausted
Revised 9/20/10 1
The above information is for reference only and does not constitute entirety of program guidelines and requirements. Please
refer to program guidelines for complete details. Guidelines subject to change without notice.

2. RIVERSIDE COUNTY HOMEOWNERSHIP ASSISTANCE PROGRAMS
INCOME LIMITS
NSHP FTHB RHP MCC
Household
Outside Inside
SIZE
Target Area Target
Area
1 $54,600 $36,400 $54,600
$71,000 $85,200
2 $62,400 $41,600 $62,400
3 $70,200 $46,800 $70,200
4 $78,000 $52,000 $78,000
5 $84,250 $56,200 $84,250
$81,650 $99,400
6 $90,500 $60,350 $90,500
7 $96,700 $64,500 $96,700
8 $102,950 $68,650 $102,950
NSHP
PROPERTY LOCATION REQUIREMENTS
Property must be located in specific locations within the following target areas only: Banning,
Beaumont, Blythe, Canyon Lake, Cathedral City, Desert Hot Springs, East Hemet, Eastvale,
French Valley, Highgrove, Home Gardens, Indio, Lake Elsinore, Lakeland Village/Wildomar,
Menifee, Murrieta, Norco, Perris, Rubidoux, San Jacinto, Temecula, Temescal Canyon, Thousand
Palms. To determine if a property is in an eligible location go to:
http://apps.rivcoeda.org/NSPTargetAreas/
RHP
PROPERTY LOCATION REQUIREMENTS
Property must be Located:
1. In an unincorporated area of Riverside County, which are areas shaded yellow on the Thomas
Guide (please note that Wildomar and Menifee recently became cities and are no longer
considered unincorporated. Thomas Guide may not reflect that change)
-or-
2. In a Riverside County Redevelopment project area.
To determine if a property is in an RHP eligible location go to:
http://www.rivcoeda.org/RHPNavOnly/RedevolpmentHomeProgram/RHPEligibleLocations/tabid/1411/
Default.aspx
MCC
TARGET AREAS
Specific Census Tracts within the Cities of Beaumont, Blythe, Cathedral City, Coachella, Corona, Desert
Hot Springs, Hemet, Homeland, Indio, Lake Elsinore, La Quinta, Mead Valley, Mecca, Moreno Valley,
Palm Springs, Perris, Riverside and San Jacinto. For Target census tract numbers go to:
http://www.rivcoeda.org/Default.aspx?tabid=1197&language=en-US.
*If a tenant/renter occupied the property the seller must have provided 90 day’s written notice to
vacate to the tenant at least 90 days prior to the initial offer to purchase. Other restrictions may apply-
see program full guidelines.
Revised 9/20/10 2
The above information is for reference only and does not constitute entirety of program guidelines and requirements. Please
refer to program guidelines for complete details. Guidelines subject to change without notice.