Real Estate Blog

Pomona Mortgage Assistance Program (MAP)

Mortgage Assistance Program (MAP) is a deferred loan program that provides eligible families with down payment and closing cost assistance to secure financing for the purchase of a single-family home or detached condominium in Pomona. There are no monthly payments and the second mortgage is due and payable only when the home is sold, refinanced with cash out, a change in title occurs, or at the end of 45 years. The City of Pomona will additionally share in the equity growth based on the percentage of City assistance to the purchase price with 1/45 of the calculated equity sharing forgiven for each full year of occupancy by the borrower.

How does the program work?

• The Homebuyer goes to a participating lender and must qualify for a first trust deed mortgage loan. The Homebuyer informs the lender of his/her intent to participate in the City of Pomona Mortgage Assistance Program. The Homebuyer must meet established affordable housing cost requirements calculated by the lender.
• Attend the Community Homebuyer Training Seminar at Inland Valley Fair Housing and Mediation, 60 E. 9th Street, Upland, CA (909) 984-2254 or at Neighborhood Partnership Housing Services, Inc. - 320 W, "G" Street, Ontario (800) 761-6747
• Find a house.
• Escrow opens.
• The Lender sends the entire application to the Housing Division. The Housing Division sends a letter to the Homebuyer indicating that MAP funds have been set aside for the purchase of your home. The first lender is also notified.
• Escrow closes and you will be a HOMEOWNER!

Who is eligible?

The Homebuyer may not have had ownership interest in a residential property within the past three (3) years. The Homebuyer's household gross income cannot be more than the following current HUD income limits per year:

Low-Income Limits**
1 Person	$41,450	5 Persons	$63,950
2 Persons	$47,350	6 Persons	$68,650
3 Persons	$53,300	7 Persons	$73,400
4 Persons	$59,200	8 Persons	$78,150
Moderate-Income Limits**
1 Person	$47,500	5 Persons	$73,200
2 Persons	$54,200	6 Persons	$78,600
3 Persons	$61,000	7 Persons	$84,100
4 Persons	$67,800	8 Persons	$89,500