Applications are now open for Long Beach’s First-Time Homebuyer Assistance Program, which will provide approximately 100 eligible families with up to $20,000 in down payment and closing cost assistance.
The city has hosted several workshops in recent weeks to prepare potential applicants for the process, and those who are interested can apply starting today.
Facilitated by the Development Services Department and made possible by the Long Beach Recovery Act, the grant program will assist low- and moderate-income households traditionally underrepresented in homeownership with purchasing their first home and building multi-generational wealth.
Eligibility requirements include being a first-time homebuyer, which the city defines as someone who has not owned a home in the past three years, and applicants must also be a first-generation homebuyer. Applicants must also presently reside within a federal Community Development Block Grant designated census tract in Long Beach, although awarded funds may be used to purchase a home anywhere in Long Beach. A full list of eligibility requirements and guidelines are available online.
Complete applications will be processed in the order that they are received. The application process will remain open until the program funding has been committed.
While applicants will be notified after applying if they are eligible, it will not be clear if funds will be awarded until the homebuyer opens escrow, city officials said in a recent interview.
For questions, call the Long Beach Resource Line at 562-570-4246 between 9 a.m. and 4:30 p.m. on weekdays.