Home Buyer Program

The City of Greenfield Home Buyer Program is designed to provide assistance to eligible home buyers in purchasing homes located within the City of Greenfield. The Program provides this assistance in the form of deferred payment "silent" second priority loans as "Gap" financing toward the purchase price and closing costs of affordable housing units that will be occupied by the home buyers as their primary residence.
A cartoon hand holding a house.

Income Qualification Criteria


Projected annual gross income of the applicant household will be used to determine whether they are above or below the published HCD income limits Household income is the annual gross income of all adult household members that is projected to be received during the coming 12-month period, and will be used to determine program eligibility. There is no asset limitation for participation in the Program. Income from assets, however, is recognized as part of annual income

Eligible Home Buyer


An eligible home buyer means an individual or individuals or an individual and his or her spouse who meets the income eligibility requirements and is/are not currently on title to real property.

Home Buyer Costs


Eligible households will be required to document that they have the funds necessary for down payment and closing costs as required by the Primary Lender and the City. Home buyer must contribute a minimum down payment of 1% of the purchase price, but may contribute more if desired. City will not provide a subsidy that is greater than $50,000.

Current Income Limits for the Area by Household Size


All applicants will be required to certify that they meet the household income eligibility requirements for the applicable HCD program(s) and have their household income documented. The income limits in place at the time of loan approval will apply when determining applicant income eligibility. All applicants must have incomes at or below 80% of the County's area median income (AMI), adjusted for household size, as published by HCD. An eligible home buyer is an individual or individuals or an individual and his or her spouse who meets the income eligibility requirements and is/are not currently on title to real property.

Applying for Assistance


Interested participants can obtain a program application (PDF), and the Housing Specialist is available to assist all applicants in preparing the application and explaining the program. Every application will be reviewed for completeness and, if necessary, requests for additional information.

All loans are subject to approval by the City's Loan Committee regarding applicant's eligibility, program requirements, the lending process and home ownership responsibility. For additional information and requirements of this program contact the City of Greenfield's Housing Specialist.