City of Perris

City of Perris City of Perris

 

City of Perris

Housing Authority Programs

There are two active housing programs: First Time Home Buyer Program and Owner-Occupied Rehabilitation Loan Program.

Get details about the programs and information for lenders and homeowners participating in an existing HAP or FTHB Program:

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Homebuyer Education

If you dream of owning your own home, attend one of our free workshops and you will learn the steps required to purchase a home, including how to qualify for first-time homebuyer benefits and programs.

Learn how to access various city, county and state programs to cover most of the costs you will be faced with to purchase your first home. Potential homebuyers are provided with valuable instruction on all important pre-purchase decisions and how to qualify for a home loan in this informative, interactive workshop.

Homebuyer Education Workshops

The City of Perris has free workshops for first-time homebuyers. These workshops provide information about the steps required to purchase a home and learn how to qualify for city, county and state programs that can help cover some of the home purchase costs.

Check back to see the next homebuyer workshop event.

Need More Help?

See our HUD-approved list of homebuyer education providers.

Need More Information about this Program?

Contact Sara Cortes de Pavon at City of Perris Housing Division for program information by calling (951) 943-5003. .

First Time Home Buyer Program

Learn More

For more information about this program, please contact the Housing Authority at 951.435.7220 or visit:
24 South D Street
Suite 102
Perris, CA 92570

The First Time Homebuyer Program (FTHB) is designed to provide qualified families with up to $65,000 for down payment assistance to secure financing towards the purchase of an existing or newly constructed home.

Eligibility Criteria

  • Property—Must be in the incorporated City of Perris limits
  • Borrower—A first-time home buyer or any person who has not owned a home in the last 3 years
  • Minimum Down Payment—1% of the purchase price
  • Must meet HOME Income limits (Riverside County Area)

Requirements

  • Must apply with a City of Perris approved lender
  • FTHB may be used with conventional, Veterans, Fixed-Rate loan, and with FHA/FNMA/FHLMC with 30 or 40 year terms
  • No variable/adjustable rates, or balloon payments
  • Attend an 8-hour Home buyer Education class (HUD approved)
  • The new home must be used as the borrower's Primary Residence

Capital Improvement Credit Request

To qualify as an eligible Capital Improvement Credit, each expenditure must be approved in advance by the City of Perris Housing Authority, PRIOR to installation of improvement. The maximum Capital Improvement Credits shall not exceed 150% of the value of the HAP loan. The City will review the proposal and approve eligible Capital Improvements within seven (7) days. The homeowner will be notified in writing of eligibility for credit.

Owner-Occupied Rehabilitation Loan Program (OORP)

Program Details

The Owner Occupied Rehabilitation Loan program (OORP) provides qualified homeowners a deferred loan of up to $50,000 with a 2% simple interest rate.  Repayment of the loan is due at the time of title change, resale, refinance with cash out, or non-compliance with program requirements.  This program is not a conventional equity loan or equity line of credit, and funding must be used to correct code violations or deferred maintenance.

Property Eligibility

  • Must have home Insurance
  • Must be current on property taxes
  • Must be a single-family detached home
  • Cannot be within a special hazard flood zone
  • Must be free of any liens or judgments
  • Must meet Riverside County maximum gross income limits

Examples of Project Eligibility

  • Basic structural repairs: exterior walls, roof, and roof structure
  • Building systems: electrical, plumbing, and heating
  • Weatherization: insulation, windows, and siding
  • Handicap accessibility: exterior ramp and bathroom facilities
  • Code Violations: correct existing code violations and improve general conditions of the homes 

To be pre-qualified for the Owner-Occupied Rehabilitation Program, please submit a OORP Pre-Qualification Form.

Please note that the Pre-Qualification Form is only to determine if you are eligible to proceed with the program application process. You will be notified by the Program Coordinator if you are eligible to proceed. Program qualification and funding is not guaranteed until the completed application has been reviewed, subject to a property inspection, and City approval.

For program information and other requirements, please contact the City of Perris Housing Authority at 951-435-7220.

Neighborhood Stabilization Program (NSP)

The U.S. Department of Housing and Urban Development's Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to states and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. This program is authorized under Title III of the Housing and Economic Recovery Act of 2008.

This program is implemented by the Perris Housing Authority.

HAP and First Time Homebuyer Loan Payoff and Resubmittal

Payoff Information for Lenders

Requirements

To request a payoff of an existing HAP or First Time Homebuyer loan, please provide the following documents by mail or hand deliver to:
City of Perris Housing Authority
24 South D. Street
Suite 102
Perris, CA 92570.

  1. Payoff request on letterhead
  2. Preliminary report dated within 30 days
  3. Recent appraisal
  4. Escrow certified settlement statement with processing fee payable to the "City of Perris" (see Housing Authority Fee Schedule).

    An escrow certified settlement statement is required once the payoff calculation is received from the Housing Authority and prior to payoff demand being released.  Settlement statement should include payoff amount AND related processing fees payable to the “City of Perris” as two separate line items referenced as follows:

    City of Perris Housing Authority Payoff
    City of Perris Resubmittal OR Payoff Processing Fee

    A final settlement statement at close of escrow will also be required once payoff demand has been provided. Processing fees may be paid at closing.  A “certified” settlement statement referencing related fees is required PRIOR to the City releasing a payoff demand or executed subordination agreement.
  5. Resale form if selling property.

    For payoff transactions that include resale of the property, completed HAP Resale Forms are REQUIRED.  Please be advised that all new buyers are required to complete the forms at the link below regardless of their participation in any city programs.  All properties that have used down payment assistance funds have a deed restriction on title that requires new buyers to income qualify prior to being approved to purchase.  This qualification process is strictly for the purposes of income qualifying the new buyer.  Resale Forms are to be submitted together with payoff request, appraisal, and preliminary report.  Incomplete files will be returned unprocessed, and additional fees will be assessed upon resubmittal.  

  6. Processing time: The process takes 7-14 business days to complete—excluding Fridays and holidays.  Please be advised that we do not offer expedited services and require that the lender or escrow submit requests at least 30 days prior to closing.

Resubmittal Information for Lenders

For refinance and other transactions that do not include the removal of equity, cash-out, or change of property ownership, please download the Resubmittal process package below. 

The process takes 7-10 business days to complete—excluding Fridays and holidays.

See our Housing Authority Fee Schedule below for related processing fees to be submitted with subordination requests.

Lender/Escrow: Please be advised that incomplete files will be returned unprocessed and are subject to additional fees upon resubmittal.  Missing information and/or missing documents constitute an incomplete file and will be returned unprocessed.  Please be sure to submit a “complete” package to avoid resubmittal processing fees.

Housing Authority Fee Schedule

Loan Resubmittal Requests — $650
Loan Resubmittal — $400
Loan Payoff Demand Requests — $850

(Perris Housing Authority, approved September 27, 2016)