Riverside County to help residents buy a home

Riverside County is allocating $1 million to help low-income, first-time homebuyers in the fifth supervisorial district.

The money, from the American Rescue Plan Act, will be spent on up to 20 percent – a maximum of $100,000 – on a down payment, according to a statement on the county’s website.

“Homeownership is essential to bringing economic mobility and building generational wealth,” said Supervisor Yxstian Gutierrez, who represents the fifth district, in the statement.  “With this program, we will help bring life-changing, affordable housing to many of our hardworking families, empowering them while strengthening our community.”

The program is being administered by the county’s Department of Housing and Workforce Solutions.

The money is provided through a silent second loan. Those being helped are not required to make any payments on the loan, which is forgiven if the homebuyer fulfills all program requirements in 15 years, according to the statement.

For more information call (951) 955-0784 or send an email to  [email protected].