Concord, California First Time Home Buyer Program

The city of Concord, California in Contra Costa County offers up to $25,000 to first time home buyers as a 0% interest, 45 year loan with no repayment until tce home is sold or at the end of 45 years. The dollar amount of the loan is determined by the annual household income of the first time buyers.

If the annual household income is at or below 100% of the Median Income for the area, the first time home buyer can received 20% of the sales price up to $25,000.

100% of Median Income by Household Size is:

1 = $58,700
2 = $67,000
3 = $74,500
4 = $83,800
5 = $90,500
6 = $97,200

If the annual household income is between 100% and 120% of the Median Income for the area, the first time hom buyer can receive 20% of the sales price up to $15,000.

120% of Median Income by Household Size is:

1 = $70,400
2 = $80,500
3 = $90,500
4 = $100,600
5 = $108,600
6 = $116,700

If you add the fact that sellers are offering incentives to lower the interest rate (and monthly payment) and pay loan costs, this is an excellent opportunity for first time home buyers to purchase their first home.