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Homebuyer Assistance

NSP2 Homebuyers Assistance Program

This program provides homebuyer opportunities for qualifying households to purchase homes that have been acquired and rehabilitated through the Neighborhood Stabilization Program. Select homes and condominiums in various areas of the City will be available for purchase. The homebuyer must obtain a first mortgage for a major portion of the purchase price and the City will provide a second mortgage for the remaining portion.

Qualifying Income Limits:

Homebuyers must meet certain requirements to be eligible for the NSP2 Homebuyers Program:

  • Household income must be between 50% and 120% of Area Median Income (AMI).
  • Must reside or work within Stanislaus County for the last 6 consecutive months.
  • Have a minimum FICO credit score of 600 or above.
  • Must attend an 8 hour Homebuyer Counseling class provided by a HUD certified agency.
  • Cannot be on title to any other property.
Household Size 50% AMI 120% AMI
1 $19,600 $47,050
2 $22,400 $53,750
3 $25,200 $60,500
4 $28,000 $67,200
5 $30,250 $72,600
6 $32,500 $77,950
7 $34,750 $83,350
8 $37,000 $88,700

  NSP2  Guidelines View
  NSP2 Application View
  NSP2 Homebuyers Class Information View
  Conflict of Interest Disclosure View
  Information Flyer (English) View
  Information Flyer (Spanish) View

Homebuyer's Assistance Program (HAP)

The program helps homebuyers by providing financial assistance with a low interest loan for down payment and closing costs. The maximum loan amount is $10,000.

Qualifying Income Limits:

Household Size Household Income
1 $33,050
2 $37,750
3 $42,450
4 $47,150
5 $50,950
6 $54,700
7 $58,500
8 $62,250
  • Homebuyer must currently live in the City of Modesto, or in the sphere of influence with a Modesto address during the last six consecutive months, or be employed in the Modesto city limits for the past six consecutive months.
  • Homebuyer's FICO (Fair Isaac Company) credit score must be 610 or higher.
  • Homebuyer must provide a minimum initial investment of 1.75% of the sales price.
  • No monthly payments are required during the 30-year term of the loan.
  • Repayment required only upon the sale, refinance, transfer or rental of the property or maturity of the loan. 
 HAP Guidelines View
 Application for Lender View

For more information, call (209) 577-5311 or e-mail

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