Can You Get Up to $59,650 to? | Christina P Reyes Changco

Could You Get Up to $59,650 to Buy a Home in Elk Grove?

If you’ve been waiting to buy your first home in Elk Grove because the down payment or closing costs feel out of reach, there’s a program you may want to know about.The City of Elk Grove Homebuyer Assistance Program offers qualifying first-time homebuyers a low-interest, deferred-payment loan of up to $59,650 to help with the upfront costs of purchasing a home in Elk Grove.For buyers who qualify, this assistance can be used toward a portion of the down payment and eligible closing costs, potentially making homeownership more attainable.

How Does the Program Work?

The assistance is structured as a 30-year silent second mortgage, meaning there are no monthly payments required on the assistance loan.Here are the key details:

Up to $59,650 in assistance
3.00% interest rate
30-year loan term
No monthly payments
Loan amount is based on household income and financial need
Assistance can be up to 20% of the purchase price or $59,650, whichever is less
Up to 3% may be available for eligible non-recurring closing costs

Because this is a deferred-payment loan, it's important to understand the specific repayment terms and conditions before moving forward.

Who May Qualify?

There are several eligibility requirements.Generally, you must:

1. Be a first-time homebuyer

For this program, you must not have owned a home within the previous three years.

2. Live in the home

The property must become your principal residence. This program is designed to help eligible buyers purchase a home to live in—not an investment property or second home.

3. Meet the household income requirements

Your household's annual gross income must fall at or below the program's applicable income limit.

2026 Maximum Household Income

Household SizeMaximum Gross Income1 person$73,6002 people$84,1003 people$94,6004 people$105,1005 people$113,5506 people$121,9507 people$130,3508 people$138,750Important: Income eligibility is based on the program's requirements and documentation, so don't assume you qualify—or don't qualify—based solely on your paycheck. The City will review your household income and supporting documentation.

What Kind of Home Can You Buy?

The property must meet the program's requirements and be located within the City of Elk Grove.Eligible property types include:

Single-family detached homes
Single-family semi-detached homes
Approved condominiums
Halfplexes

There are also property requirements to keep in mind.The home:

Must be located within the City of Elk Grove
Must be vacant at the close of escrow
Must be within the program's maximum purchase price
Requires a home inspection
Must meet applicable health and safety requirements

As of May 2026, the maximum purchase price is listed as $539,500, based on the Sacramento County median. This amount may change depending on market conditions and the date your application is submitted.

What Does the Application Process Look Like?

One of the biggest things I want first-time buyers to understand is that this isn't simply a matter of getting approved for a loan and receiving a check.There is a process—and timing matters.

Step 1: Submit Your Application

You'll need to complete the City of Elk Grove Homebuyer Assistance Program application and provide the required supporting documentation.This may include items such as:

Paystubs
Bank statements
Other financial documentation
A lender prequalification or pre-approval letter

Applications must be mailed or hand-delivered to:City of Elk Grove8401 Laguna Palms WayElk Grove, CA 95758Attn: Housing Program ManagerApplications are processed on a first-come, first-served basis, and incomplete applications will not be processed.

Step 2: The City Determines Your Eligibility

Once the City receives your application, staff will review your household income and documentation to determine whether you meet the program's basic eligibility requirements.Depending on your situation, additional documentation may be requested.This is one reason it's helpful to work closely with your lender and real estate agent before submitting your application. Having your financial documents organized can help keep the process moving.If you meet the requirements, the City will provide a letter confirming your income eligibility and outlining the next steps.

Step 3: Start Looking for Your Home

Once you've been determined eligible, you can work with your real estate agent to find a qualifying property.This is where having an agent who understands the program can be especially helpful.You'll want to make sure the home:

Is located within Elk Grove
Falls within the program's purchase price limit
Meets the property's eligibility requirements

Once your offer is accepted, your agent will provide the City with a copy of the Purchase and Sale Agreement.

Step 4: City Reviews the Loan & Property

After your offer is accepted, your lender and agent will submit the required loan package to the City.The City will review the transaction to make sure it complies with the program guidelines.The City may also conduct an inspection to verify the property's condition and basic health and safety requirements.If repairs are required, those issues must be corrected and verified before the assistance can be funded.

Step 5: Loan Committee Review

Once the City has determined that the buyer, property and loan request meet the program requirements—and funding is available—the request moves to the Loan Committee.The committee reviews the request before the loan can be approved.

Step 6: Loan Commitment & Funding

After approval and once all required conditions have been satisfied, the City prepares the loan documents and requests the funds for escrow.The funding is contingent upon the required loan documents being properly executed.

Step 7: Close on Your Home

Once escrow closes, the City reviews the closing statement to confirm that the final transaction matches what was approved and that there were no excess proceeds.And then—you get the keys. 🔑

So, Could This Program Help You Buy in Elk Grove?

Potentially.The important thing is not to wait until you've found your dream home to figure out whether you qualify.Because applications are processed on a first-come, first-served basis and funding is subject to availability, understanding your eligibility and getting your paperwork together early can be an important part of your homebuying strategy.If you're a first-time buyer considering Elk Grove, I would recommend starting with three conversations:1. Talk to a lender.Get pre-qualified and understand what monthly payment fits comfortably within your budget.2. Determine whether you meet the City's income requirements.Don't make assumptions based solely on your salary. The City will review your household income and documentation.3. Talk to a local real estate agent who understands the process.There are additional requirements beyond simply finding a home you love, so having the right team early can help you navigate the process.

Thinking About Buying Your First Home in Elk Grove?

Programs like this can change, including income limits, purchase-price limits, funding availability and program requirements.If you're considering buying your first home in Elk Grove or Sacramento County, let's talk about your options and build a plan around your specific situation.Your first home doesn't have to feel impossible. Sometimes you just need to know what's available and where to start.Program information is based on City of Elk Grove Homebuyer Assistance Program guidelines available in 2026. Eligibility, funding availability, income limits, purchase-price limits and program terms are subject to change. Buyers should verify current requirements directly with the City of Elk Grove and their participating lender before relying on this information.

Christina P Reyes Changco Real Estate Agent Area served: Elk Grove, Roseville, Sacramento, Concord, CA, San Jose, CA Expertise: House Hacking, Employer Relationships, Downsizing, New Construction, Investor Clients