First-time homebuyer: Applicant(s) and spouse must be First Time Homebuyers which is defined as someone who has not owned their principal residence during the previous three years. Some exceptions may apply.
Household Income: Applicants' annual household income may not exceed 120% of the Area Median Income. Income of all household members 18 years or older must be considered (including house/roommates). Refer to this year's rent and income limits.
Oakland resident, Oakland worker/student, or Oakland displacee: At least one adult household member must be an Oakland resident, an Oakland worker/student or an Oakland displacee (displaced from a former Oakland home).
Other Requirements: Buyers must contribute 3% of the purchase price from their own funds to pay for down payment and/or closing costs. Some exceptions may apply.
Maximum Loan Amount: MAP loans provide assistance that fills the gap between what a household can afford and the purchase price. Maximum loan amounts are relative to the transaction but can not exceed the following amounts based on household income:
|Household Income||Maximum Loan Amount|
|up to and including 80% AMI||30% of the purchase price not to exceed $75,000.|
|Between 80% AMI and 120% AMI||20% of the purchase price not to exceed $50,000.|
Minimum Amount: N/A
Interest Rate: 3.00% simple interest accrues annually
Payments: No Monthly Payments
Term: Due in 30 Years or when the borrower sells, transfers, refinances the property (under certain conditions) or converts the home to rental property
Prepayment Penalty: None
Location: Property must be located in the City of Oakland.
Property type: Single family dwelling, including condos, townhomes, manufactured and live-work units. (Properties with conforming and non-conforming in-law units are not acceptable).
Property Condition: Property must have a satisfactory home inspection. Renovation/rehabilitation acquisition purchases are permitted with an approved renovation/rehabilitation first mortgage product.
See a participating community loan officer to complete the application. There is a $250 application fee (waived for FHA/VA loans)
Purchase price limit: $955,000
Occupancy: Owner-occupied or vacant
Eligible Uses: Primary Residence
Security: Deed of Trust
How to Apply
Status: Funding is not currently available. This page will be updated when we have funding replenished and are taking reservations
Deadline: Funds are available on a first-come first-served basis. Please call or check the website periodically for status updates.
- Reserve space in an Education Workshop by visiting https://www.oaklandca.gov/services/attend-a-first-time-homebuyer-workshop and selecting a workshop.
- After getting a certificate from the workshop, apply through one of the participating lenders. (Applications are NOT made directly through the City.)
Application Approval Process for the First-Time Homebuyer Mortgage Assistance Program (MAP)
- Attend a home buyer education workshop
- Get your loan pre-approval from a participating lender
- Select a real estate agent.
- Find a home.
- Sign a purchase contract.
- Complete the loan application with a participating lender by providing them a copy of the purchase contract.
- Lender structures your financing package and reserves MAP program funds.
- City of Oakland commits funds to the transaction. Funds are committed on a first-come-first serve basis only after the buyer is in contract and eligible financing is structured.
- Lender submits application to City of Oakland.
- City of Oakland verifies eligibility and issues approval letter.
- City coordinates loan closing and funding with first lender and escrow.
Return to the SERVICES FOR HOMEBUYERS page.