First Time Homebuyer Program
The City of Ceres' First Time Home Buyer Program (FTHB) helps eligible applicants purchase a home with up to an $80,000.00 down payment loan. These funds are made possible through the HOME program.

Funding Availability Status
We are currently accepting completed interest forms from potential applicants. The City will provide information to all potential applicants who have completed an interest form as it becomes available. Please mail all completed forms to:

City of Ceres
Attn: Housing Programs
2720 2nd Street
Ceres, CA 95307

(Updated 6/10/09)

Requirements for the program
You must meet all of the following requirements to be eligible for this program.

1. You must be below 80% of Stanislaus County's median income for the number of people in your household. See the following income table.
2. You must contribute a minimum of $3,000.00 to be used toward the purchase of the home. Funds must be available at time of application.
3. You must have good credit with no outstanding collections, judgments, liens or any other negative debt. You must qualify for a new current market rate first mortgage with a lender of your choice that is acceptable to our First Time Homebuyer Program.
4. You must not have owned a home within the last three years and you must occupy the purchased property as your primary residence.
5. The property must not exceed single family mortgage limits. Contact us for current limit.

Income Table	( HUD February 13, 2008 )
Number in Family	Median income for Stanislaus County
	80%
1	$31,650
2	$36,150
3	$40,700
4	$45,200
5	$48,800
6	$52,450
7	$56,050
8	$59,650

Repayment of the Loan
No monthly payments are required. Interest on the $80,000.00 begins to accrue in at 3% simple interest for 30 years.

The total amount of the loan plus any accrued interest becomes due and payable when the property is sold, rented, no longer occupied by the primary borrower or 40 years which ever occurs first.

Document Checklist
Please have all of the items listed below before calling for an appointment.

1.	a. _____	Last three years tax returns
	b. _____	Most recent month pay stubs.
	c. _____	Other proof of income for household members
2.	_____	Last three months bank statements showing a minimum balance of $3,000 including the bank name, address, phone number and account number.
3.	_____	Written list of all your creditors showing the balance due and monthly payments to each.
4.	_____	Copy of Purchase contract.

Interest Form