First Time Homebuyer Assistance Program




This program provides flexible second mortgages to help families purchase their first home in the unincorporated areas of Placer County. The First Time Homebuyer Assistance Program loan can help make mortgage payments more affordable. Loans are available on a first-come/first-serve basis for qualified applicants that meet the program requirements. 

Minimum Requirements

  • You must be a First Time Homebuyer defined as:
    • A household who has not owned a home (other than a mobile home) in the past 3 years or;
    • A displaced homemaker who has not worked on a full-time basis for 12 consecutive months in the past two years or;
    • A single parent who is unmarried or legally separated from their spouse and has custody or joint custody of a minor or;
    • A household who owned a home not fixed on a permanent foundation or own a home out of compliance with local, state or model building codes whose cost to bring their structure into compliance would be more than the cost of constructing a permanent structure.
  • You must be pre-approved for a first mortgage loan.
  • You must make less than 80% of the County's Median Income for your household size. The current income limits are:
Income Limits (as of May 13, 2022) by Household Size
1 Person2 Persons3 Persons4 Persons5 Persons6 Persons7 Persons8 Persons

Source:  State Income Limits for 2022, HCD Memorandum dated May 13, 2022 

  • You must have 3% of the total purchase price available at the time of application. These funds cannot be in the form of a loan.
  • The eligible property must be located in unincorporated Placer County.*

*View whether a property is located in unincorporated Placer County. To navigate the map, type the parcel number or address of the property in the search box in the upper right hand corner. A widget will pop up on the left with the city listed. If the city is listed as "Unincorporated," the property is eligible for the First Time Homebuyer Program.

If you do not meet these income limits check out GSFA's housing programs for more housing assistance programs. 

Finding a Mortgage Lender

The First Time Homebuyer Assistance Program should be compatible with most home loans that are on the market. While we encourage you, as a potential buyer, to find the mortgage lender that is the best fit for you, it is important that you discuss your interest in using the First Time Homebuyer Assistance Program with whomever you chose. The following list of lenders have already approved of the Program, making them great options.