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Loan Programs

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2019 HOME Program Fact Sheet

The purpose of this program is to provide assistance in the form of a deferred payment loan as ‘gap’ financing to eligible households in purchasing their first home. These loans are available for down payment and closing cost assistance to low and very low income households.

Qualified homebuyers may receive a maximum loan amount of $75,000 towards the purchase of a home located within the city limits of Vacaville. The minimum loan amount is $10,000.


Term and Interest Rate

The loan term will be a minimum 30-year deferred payment loan. The interest rate shall be 3% per annum for the first ten (10) years.  At the end of the ten-year period, ten percent (10%) of the interest is forgiven each year until all interest is fully forgiven at year 20, and only the principal remains due and payable at year 30, as long as there is no event of default.

Lien Position

Subordinate to the first deed of trust and is recorded as a second deed of trust. City must approve all senior financing.

Use of Funds

Down payment and non-recurring closing costs. Non-recurring closing costs includes credit report, escrow, closing and recording fees, title report, title insurance, and title updates.

Monitoring Agreement

The monitoring period is 30 years; under special circumstances, an additional 15 – 30 years may apply. The City will monitor the loan agreement to ensure adherence to program requirements which includes, but is not limited to, the following: 

            • Owner-occupancy 
            • Property Tax Payment 
            • Hazard Insurance Coverage 
            • Good Standing on Primary Loan 
            • General Upkeep of Housing Unit 


Front-end ratio: 28% to 35%
Back-end ratio: 36% to 45%


Loan to Value

Combined with all other indebtedness shall not exceed 100 percent of the sales price plus a maximum of up to 5 percent of the sales price to cover actual closing costs.


What is the definition of First-Time Homebuyer?

A First-Time Homebuyer has not had an ownership interest in a residence at any time within the last three years.

Buyer's Down Payment

Homebuyer must contribute a minimum investment of 1% of the purchase price towards the down payment.

Homebuyer Education

Certificate required from a HUD-approved housing counseling agency. For information on where to sign up for a Homebuyer Education workshop, click here.


Owner-occupant, primary residence

Credit History

A good pattern of credit behavior. Negative reports must be explained.

Income Requirements

Current state published "low income limits" for Solano County. The income guidelines are published annually by the State of California Department of Community Development.

Household Size









2018 Maximum Income Limit

80% AMI










Eligible Properties

New or previously owned single-family detached homes, townhomes, or condominiums located within Vacaville city limits. 

The home must be “modest”; it may not exceed three bedrooms and two bathrooms unless there are documented extenuating circumstances.


Purchase Price Limit

The value cannot exceed 95 percent of the HOME program area median purchase price maximum as follows:

        • Existing: $418,000 
        • New: $418,000


        • City HQS inspection is required. Must comply with local codes and health and safety requirements. 
        • Lead based paint visual assessment required for pre-1978 homes. 
        • Pest inspection with “Section 1” clearance required. 
        • Any deficiencies must be cleared prior to closing. 
        • If located within a 100-year flood zone; proof of flood insurance is required. 
        • Homeowner’s warranty policy is encouraged, but not required.

Occupancy Requirements

Owner-occupied. Owner-occupancy to be certified annually.



The loan shall be fully amortized and have a term “all due and payable” in no fewer than 30 years.     

Loan Term and Interest Rate

Fully amortized, fixed interest rate that does not exceed the current market rate. A permanent loan buy-down is permitted as long as it does not cost more than 1% of the loan amount.

Mortgage shall not include provisions for negative amortization, principal increases, balloon payments or deferred interest. Adjustable Rate Loans (ARM’s) and Graduated Payment Loans (GPM’s) are not allowed.

Impound Account

Required for hazard insurance and property taxes.

Application Process

        1. Homebuyer applies with one of the participating lenders. 
        2. Lender pre-qualifies buyer for primary mortgage and determines amount needed from the First Time 
            Homebuyer Program. 
        3. Lender sends the completed application packet to the City of Vacaville for review and loan approval. 
        4. Upon approval, loan documents and funds will be sent directly to the title company.

Additional requirements may apply. For a pdf/printable version of this information, click here.

To apply for the program, any of the lenders on the City approved lender list may be contacted. For additional information or questions call (707) 449-5675 or visit our website at  


 Equal Housing logo

The City of Vacaville provides its programs and services in a non-discriminatory manner and is an Equal Opportunity/Affirmative Action Employer.

Participating Lenders     
Action Funding Group 707-399-8880  1545 North Texas Street #302 Fairfield CA 94533
Caliber Home Loans (Adobe) 707-469-1234  785 Alamo Drive Suite 140 Vacaville CA 95688
Big Valley Mortgage          707-455-7070 479 Mason Street Suite 109 Vacaville CA 95688
Cherry Creek Mortgage 916-320-6665 5751 Sunrise Blvd Citrus Heights CA 95610 
DHI Mortgage 925-225-7472 6632 Owens Drive Pleasanton CA 94588
Downtown Lending Group 707-249-1044 707 Merchant Street Vacaville CA 95688 
People's Home Equity 707-759-5129

1300 Oliver Road, Fairfield, 94534

First Community Mortagage 707-678-3500 165 East A Street Suite A Dixon CA 95620 
Caliber Home Loans 707-432-1000 3700 Hilborn Road Suite 700 Fairfield CA 94534
Guild Mortgage Company 702-373-4036 7472 West Sahara Ave Suite 102B Las Vegas NV 89117
Kappel Mortgage Group 707-480-6122 401-D Davis Street Vacaville CA 95688 
New American Funding 707-301-9073 324 Cernon Street Vacaville CA 95688

Opes Advisors

707-427-5400 301 County Airport Road Vacaville CA 95688
Sierra Pacific Mortgage 707-718-6060 535-B Main Street Vacaville CA 95688
Solano Mortgage 707-449-4777 866 Alamo Drive Vacaville CA 95688
Loan Simple 707-451-1400 301 County Airport Road Suite 208  Vacaville CA 95688 
Caliber Home Loans 707-447-9962 850 Merchant Street Suite A Vacaville CA 95688 
Travis Credit Union 707-469-1844

 One Travis Way Vacaville CA 95687

Wells Fargo Mortgage 707-451-5000

770 Mason Suite 120 Vacaville CA 95688

Wells Fargo Mortgage 707-432-3460 1293 Oliver Road, Fairfield CA 94534
Land Home Financial Services   707-392-4310 535-A Main Street Vacaville CA  95688
Vitek Mortgage Group  530-753-7640 342 Merchant Street, Vacaville, CA 95688
Envoy Mortgage  707-449-4222 411 Davis Street Suite 201 Vacaville CA 95688 
Mortgage Advisors Funding Grp 707-451-1262 630 Davis Street Vacaville CA 95688 
American Pacific Mortgage  707-746-4920 615 First Street Benicia CA 94510 
Freedom Mortgage   707-679-1492 1021 First Street, Suite 4, Benicia, CA 94510
Freedom Mortgage 707-635-6629 91 Cernon Street, Suite B, Vacaville, CA 95688  

 Mountain West Financial



First Bank    

707-372-8271      542 Main Street, Vacaville, CA 95688 
Umpqua Bank  707-508-3687      3550 Round Barn Blvd., Suite 207, Santa Rosa, CA 95403 
 Pinnacle Capital Mortgage 510-669-2202  3220 Blume Dr, Suite 248, Richmond, CA 94806