City of Camarillo Workforce Housing Down Payment Assistance Program

City of Camarillo and Ventura County Community Development Corporation Introduce First-Time Home Buyer Program For Local Residents and Workers 

VCCDC in partnership with the City of Camarillo announce the launch of the Camarillo Workforce Housing Down Payment Assistance Program which is designed to support local workforce housing affordability by helping Camarillo residents or employees of Camarillo businesses buy their first home in the City of Camarillo. 

The Camarillo Workforce Housing Down Payment Assistance Program aims to help local working households become homeowners in Camarillo. Qualified applicants may receive up to $50,000 in down payment and closing cost assistance. The loan carries a simple 3% annual interest rate, and payments are deferred for 10 years. The Camarillo Workforce Housing Down Payment Assistance Program will reduce the amount of the loan needed from the primary mortgage lender, thus reducing the monthly cost of housing to the household. Qualified applicants may use the funding to purchase an attached or detached single-family property within Camarillo city limits

 

Basic Program Eligibility Requirements:

  • Be a first-time homebuyer (not owned a home in the past three years)

  • Priority will be given to applicants in the following order: low-income buyers; buyers currently residing in Census Tract 54.03, 53.04 or 55.02; buyers residing or working within the Camarillo city limits; all other applicants

  • Qualify as a low- or moderate-income household - up to 150% Area Median Income (AMI)

  • Complete a City-approved first-time homebuyer education class

  • Have the ability to be pre-approved for a fixed-rate mortgage loan

  • Contribute at least 3% buyer’s own funds of the property purchase price

  • Other criteria and requirements may apply

VCCDC’s partnership with the City of Camarillo underscores their shared commitment to supporting the community and helping individuals achieve their homeownership goals. Eligible and qualified individuals are encouraged to apply and take advantage of this opportunity to achieve their dream of homeownership. Click here for program flyer. Request an application at vccdc.org/lending.

VCCDC is a multi-county nonprofit organization with a mission of empowering families and individuals through financial education and homeownership. VCCDC is a Community Development Financial Institution (CDFI) as designated by the U.S. Department of the Treasury and a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD). VCCDC is a mortgage broker licensed with the California Dept. of Real Estate: Broker #01521885; NMLS #347041. As an Equal Housing Lender, We Do Business in accordance with Federal Fair Lending Laws.

Keily Victoria