On May 25, 2023 Fresno Mayor announced $100k forgivable loans for Fresno home buyers. The City of Fresno Mortgage Assistance Program will provide down payment assistance. The City’s second mortgage loan will be a 15-Year Forgivable Deferred Payment Loan (DPL) up to $100,000 with a zero percent (0%) interest rate. FHA Loan applicants must have a miThe DPL will provide homeownership for 50-70 Fresno low-income households that meet Fannie Mae AMI of $58,320 HomeReady. For the year 2023, the maximum FHA loan amount for Fresno County is $472,030 in areas with lower housing costs.Conventional conforming loan limits for Fresno County is $726,200. The minimum FICO score is 620. Borrowers can use the assistance for the minimum required investment, closing costs, and/or prepaid expenses. For FHA loans the minimum FICO score is  620 to qualify for the low-down payment advantage which is currently at 3.5%. If your credit score is below 580, the down payment requirement is 10%.The assistance amount is up to 21.183%Apply for a home loan with down payment assistance FHA loan limits apply to $472,030https://bit.ly/3BHBaxc

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