Buying your first home can feel overwhelming—especially in high-demand areas like Southern California. If you’re considering planting roots in Buena Park, this program could make your dream of homeownership a reality. Funded by the city and aimed specifically at helping first-time buyers, the Buena Park First-Time Homebuyer Program offers financial assistance to eligible residents looking to purchase their first home.

What Is the Program?

The Buena Park First-Time Homebuyer Program is a deferred-payment loan program designed to assist low- to moderate-income households with down payment and closing costs. The program provides a silent second mortgage, meaning no monthly payments are required until certain conditions are met, such as selling, refinancing, or paying off the home.

Key Details of the Program

Funding Source

This program is funded by the City of Buena Park and is part of their ongoing commitment to making homeownership more attainable for local residents. The funds are often allocated through Community Development Block Grants (CDBG) or other city housing resources.

Eligibility Criteria

• First-Time Homebuyer Status: Applicants must not have owned a home within the past three years.
• Income Limits: Applicants must fall within the low- to moderate-income limits set by the U.S. Department of Housing and Urban Development (HUD) for Orange County.
• Creditworthiness: A good credit score is required (typically above 620).
• Property Location: The home must be located within the city limits of Buena Park.
• Primary Residence: The home purchased must be used as the applicant’s primary residence.
• Loan Requirements: Applicants must qualify for a primary mortgage with a private lender.

Benefits of the Program