CITY OF PORT HUENEME - Home Buyer Assistance Program (HBAP) - Part 2
By Donne Knudsen, CalState Realty Services
(Los Angeles & Ventura Counties in CA)
The city of Port Hueneme actually has two different down payment assistant programs, the Home Buyer Assistance Program (HBAP) and the CalHOME program. Both programs are specifically geared to the low-moderate income individuals and families. Both programs have sufficient funds for new applicants and reservations although the CalHOME program is a little more limited than the HBAP. Home Buyer Assistance Program (HBAP) Down payment assistance is provided in the form of a secured 2nd mortgage with contingent, deferred interest in the form of an equity share in the property. Loan proceeds may only be used toward the purchase of a single family home, condominium, or townhouse located within the City of Port Hueneme. Eligible borrowers are low-moderate income, first time buyers, regardl...
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