First Time Homebuyer Program Property Owner Resources

First Time Homebuyer Approved Lender List
FTHB property owners must work with a "Primary or Secondary" loan consultant listed on the City's Approved Lenders List in order to fully utilize our program to purchase a home. The City's lender is fully trained and understands how best to assist you in determining the amount of home loan your household is eligible to borrow and your household can qualify to purchase while adhering to the City's funding restrictions of purchasing a below market priced home.

Eligible Capital Improvements List
Please notify City staff before you make any improvements and take pictures of your home before and after improvements to receive credit for work done to the house.
  • New roof, gutter system and/or downspouts
  • Window replacement for energy efficiency
  • Exterior painting, siding and/or stucco repair
  • Walkway or driveway repair
  • Front yard landscaping and sprinkler system installation
  • Utility (heating, plumbing, and/or electrical) upgrade and modernization, not simply repair
  • Dry rot repair, including foundation repair or replacement
  • Exterior front yard fencing replacement (not repair)
  • Removal and/or retrofit of window safety (security) bars
  • Earthquake retrofit (to acceptable standards)
  • Cost of City permits (all work that requires a city permit must include proof that a permit was received and the work was inspected and approved)
  • Attached garage repair (exterior only)
In all cases, the value of your labor is not an eligible cost.

Restricted Resale Price
If you decide to sell your home within the 30-year term, you must notify the City. The City has the first option to purchase your home at a "Restricted Future Resale Price" or the City may opt to assign the sale of your home.

The "Restricted Resale Price" is the lowest of:
  • Original Sales Price plus Percent of Increase in the Median Income plus Value of capital improvements; or
  • Fair Market Value (FMV) determined by an appraiser.
For additional information on the First Time Homebuyer Program, please email us.