Long Beach Homebuyers Will Get Relief With New City Grant Program

LONG BEACH, CA — Long Beach residents looking to buy a home may get the opportunity for help from the city with an upcoming First-Time Homebuyer Assistance Program that will offer 100 families up to $20,000 in down payment and closing cost assistance.

The program is a grant rather than a loan or mortgage service and will assist low to moderate-income families who are traditionally underrepresented in homeownership. Only first-time homebuyers who reside within a federal Community Development Block Grant designated census tract in Long Beach will be eligible to apply.

“This is an amazing opportunity for first-time homebuyers to invest in their future and plant roots in Long Beach,” said Mayor Robert Garcia. “We’re excited to provide assistance to help make the dream of homeownership a reality for these families.”

The Long Beach City Council unanimously approved the Everyone in Economic Inclusion Implementation Plan in 2019, which included the direction to create and fund a Down Payment Assistance Program. Funding for the proposed program was included in the City's Recovery Plan via a motion from Vice Mayor Rex Richardson in March 2021.

Additional funding comes from the Long Beach Recovery Act, which funds economic and public health initiatives for residents, workers and businesses in Long Beach who were critically impacted by the COVID-19 pandemic. The city allocated $3 million for the funding and administration costs associated with facilitating this program.

“Long Beach is proud to help support pathways to homeownership for local families,” Richardson said. “By investing in down payment assistance, we are ensuring that our housing programs meet the needs of our diverse community, making sure residents can achieve the dream of homeownership.”

To view eligibility information and more program details visit the City's website.