The City of Fremont offers down payment loan assistance (Welcome Home and Welcome to the Neighborhood programs) to income eligible first time homebuyers. Additionally, the City also has an Inclusionary Housing Ordinance which offers homes (Moderate Income Homeownership program) to income eligible home buyers at a below market price. Please see below for eligibility and application process.
If you can answer "Yes" to the following six questions, you may be eligible to participate in the First Time Homebuyer Programs sponsored by the City of Fremont.
- Can you certify that you have not owned a home in the last three calendar years?
- Do you currently live or work in the City of Fremont? If not, have you previously lived in Fremont but continue to maintain significant ties to the City? (Supporting documentation for prior residency required)
- Will you be able to secure a mortgage? (Your credit is good and you are ready to buy!)
- Are you able to complete the mandatory First Time Homebuyer Workshop? (2 hours)
- Will you purchase a home in Fremont?
- Do you meet the income guidelines? (see charts below)
Minimum Gross (before taxes) Annual Income
Family Size |
1 |
2 |
3 |
4 |
5 |
6 |
|
First Time Home Buyer Program |
$48,300 |
$55,150 |
$62,050 |
$68,900 |
$74,450 |
$79,950 |
|
Maximum Housing Cost* (see below) |
$1,935 |
$2,210 |
$2,486 |
$2,762 |
$2,984 |
$3,205 | * Maximum housing cost=amount of money spent each month for housing which includes principal, interest, property taxes, insurance, homeowner's association and utilities.
Maximum Gross (before taxes) Annual Income
Family Size |
1 |
2 |
3 |
4 |
5 |
6 |
|
Moderate Income Home Ownership Program (lottery program) |
$66,350 |
$75,800 |
$85,250 |
$94,700 |
$102,300 |
$109,900 |
|
Welcome Home & Welcome to Neighborhood Programs (loan program) |
$72,350 |
$82,700 |
$93,000 |
$103,300 |
$111,600 |
$119,900 |
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Note: Limited Seating. Workshop dates are subject to change
|
Open Enrollment |
Upcoming Workshops |
Workshop Time |
| May 12, 2008, 8 a.m. |
Tuesday, June 10 |
3 p.m. - 5 p.m. |
| July 14, 2008, 8 a.m. |
Tuesday, August 12 |
3 p.m. - 5 p.m. |
| September 8, 8 a.m. |
Tuesday, October 7 |
3 p.m. - 5 p.m. |
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First Time Homebuyer
Approved Lender List |
|
|
|
Welcome to the Neighborhood
Street Ranges |
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(Must be a First Time Home Buyer graduate eligible to participate in the lottery program) Register during "open enrollment" for an upcoming mandatory workshop
Next Lottery Date: June 20, 2008
Name and Location of the developments and number of homes in this lottery:
|
Name of Development |
Number of Bedrooms |
Number of Homes |
| Rosewood (Laiolo/Davis) |
3 (only 3* - 5 person households) |
5 |
*Not all 3 person household will be eligible for this lottery
Please note Developers will not be able to answer questions regarding below market rate homes offered through our Moderate Income Homeownership program.
More Information
Please call the Office of Housing and Redevelopment at 510-494-4500 or email housingandredevelopment@ci.fremont.ca.us for specific questions about the program.
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