Homebuyer Assistance Program

The Lompoc Homebuyer Assistance Program is a program of the City of Lompoc, in collaboration with community partners the Housing Trust Fund of Santa Barbara County (HTF) and Peoples’ Self-Help Housing Corporation, to expand homeownership opportunities in the community of Lompoc. The program helps bridge the homeownership affordability gap for local residents by providing 30-year deferred payment loans up to $50,000 per household to assist first-time low-income homebuyers in purchasing a home in the City. Funds can be used for down payment costs for households who earn up to 80% of the Area Median Income (AMI), adjusted for household size. The loans have no current interest or principal payments, accrue 3% simple interest annually and are repaid upon sale, transfer or refinancing of the home or at the end of the loan term. Qualified applicants may also be eligible for a closing cost grant up to $3,500. Funding for the program has been provided through the City of Lompoc.

The program removes financial barriers to the dream of homeownership by lowering home acquisition and carrying costs. The program enables qualified families to purchase a home that provides a stable residence that strengthens the family, the neighborhood and the community.

For more information, please contact the City of Lompoc’s Community Development Department at (805) 875-8245.

City of Lompoc - 100 Civic Center Plaza - Lompoc, CA 93436 - (805) 736-1261 - © 2011