TL;DR – Can You Get First-Time Buyer Help in Placer County??
Yes. Placer County offers a dedicated First-Time Homebuyer Assistance Program (FTHB) that provides down payment and closing cost help to eligible buyers purchasing in cities like Lincoln, CA. With support up to $150,000, these programs are designed to make homeownership accessible for lower and moderate-income households.
What Is the Placer County First-Time Homebuyer Program?
The Placer County FTHB Program is a local initiative that provides shared appreciation loans to help cover a down payment and closing costs. The loan has no monthly payments and is repaid only when the home is sold, refinanced, or transferred.
Key Features:
- Loan Amount: Up to $150,000 or 30% of the purchase price (whichever is less)
- Interest: 0% interest
- Repayment: Due upon sale, refinance, or transfer of property
- Property Type: Must be owner-occupied, single-family home or condo
Program Info on Placer County Website
Who Qualifies in Lincoln, CA?
To be eligible, Lincoln residents must meet the following criteria:
- First-Time Buyer: No ownership interest in real estate in the past 3 years
- Income Limits: Must earn under 80% of Placer County median income
- Home Purchase Price Limit: Must fall within HUD guidelines (check with lender)
- Primary Residence: Must live in the home you buy
- Homebuyer Education: Completion of HUD-approved course
Use this HUD tool to check eligibility: https://www.huduser.gov/portal/datasets/il.html
How Much Assistance Can You Receive?
Depending on your income and the home you’re buying, you could receive:
- Up to $150,000 in assistance
- Typically covers down payment + most closing costs
- Loan is deferred with 0% interest
This can reduce the upfront cash needed to buy a home in Lincoln by 70% or more.
Step-by-Step: How to Apply Locally
- Get Pre-Qualified with a participating mortgage lender (like Fairway Lincoln)
- Find an Eligible Home within Placer County
- Complete a Homebuyer Education Class (HUD-approved)
- Submit FTHB Application through your lender or county partner
- Close the Loan & Move In!
Note: Funds are limited and issued on a first-come, first-served basis.
Other Local Programs to Consider
1. CalHFA Programs
Statewide options that pair well with county assistance:
- MyHome Assistance
- ZIP for closing cost help
- Forgivable Equity Builder Loan
https://www.calhfa.ca.gov/homebuyer
2. Lincoln Affordable Housing Programs
The City of Lincoln occasionally offers below-market-rate (BMR) units and development grants for qualified buyers. Check with local housing staff for current availability.
3. Assist-to-Own for County Employees
A special program for Placer County workers offering additional support:
- Down payment and/or closing cost support
- Must be employed by Placer County and purchase within the county
Common Questions from Lincoln Buyers
Q: Do I need perfect credit to qualify?
A: No, but most lenders require a minimum credit score of around 640.
Q: Can I combine this with other programs?
A: Yes, you can stack county assistance with state and city-level support.
Q: What if I refinance in the future?
A: You must repay the shared appreciation loan at that time.
Real Lincoln Success Stories
“We were renting in Lincoln and didn’t think homeownership was possible. The Placer County loan covered our down payment, and now we own a 3-bedroom near Twelve Bridges.” – The Harrison Family
“As a teacher in Placer County, the Assist-to-Own program gave us the boost we needed to stop renting. The Fairway team helped us through every step.” – April S.
“We combined CalHFA and the county’s program to cover nearly all our upfront costs. Without this, we wouldn’t be homeowners today.” – Jordan and Lexi M.
FAQ: Placer County Homebuyer Assistance
Q: Is the assistance a grant or a loan?
A: It’s a deferred-payment shared appreciation loan.
Q: Do I have to pay monthly payments on the loan?
A: No. Repayment is only due when you sell, transfer, or refinance.
Q: How do I know if my income qualifies?
A: Use HUD income limits or speak to a local mortgage expert.
Q: Can I buy a home anywhere in Placer County?
A: Yes, including Lincoln, Auburn, Rocklin, and Roseville.
Q: Where do I start?
A: Begin with a consultation from a participating lender.
Final Thoughts: How To Start With COnfidence
Homeownership in Lincoln, CA is more achievable than many realize. With Placer County’s First-Time Homebuyer Assistance, local programs, and expert support from Fairway Lincoln, you could be much closer to keys-in-hand than you think.
