Coming soon! Mortgage Assistance Program for First Time Homebuyers

Published on January 29, 2026

Over $1 million in funds is being allocated to offer assistance for first time homebuyers in Salinas, following approval by the City Council on Tuesday, January 27, 2026. The First Time Home Buyer Mortgage Down Payment Assistance Program will allow local residents to open the door to homeownership in Salinas by offering down payment support of up to $125,000 to those who meet income and residency requirements.

This program aims to accomplish helping people create long term stability, that simultaneously allows renters to become homeowners, thus, leading to stabilization of neighborhoods and generating opportunity for the future, and is intended to complement existing rental assistance and housing stabilization initiatives. 

Eligibility Criteria

The City’s Community Development Department will be running this program and will establish partnerships with local lenders, realtors, and community organizations. Participants of this program must complete a homebuyer education course, and applications will be granted acceptance on a first come, first served basis.

Initial funding for this program is anticipated to assist up towards 10 households, with funds recycled into a fund to support future homebuyers. The assistance plan is anticipated to be implemented in the Fiscal Year of 2026-2027, with full funds committed by June 30, 2030.

Eligible Salinas residents now have the opportunity to transition from renting to owning through the First Time Home Buyer Down Payment Assistance Program. The program is funding through existing Permanent Local Housing Allocation (PLHA) funding. 

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