February 10, 2025 | Bulletin #25-05

Attend a Workshop for the ReCoverCA Homebuyer Assistance Program

The ReCoverCA Homebuyer Assistance (HBA) Program is offering workshops in February to help low- and moderate-income (LMI) individuals and families impacted by the 2017 California wildfires learn about financial assistance to help them purchase homes in safer, lower-fire-risk areas of California.

The ReCoverCA HBA Program provides up to $350,000 in financial assistance to eligible households, helping bridge the affordability gap between what an applicant can afford with a First Mortgage Loan and the purchase price of an eligible property. This assistance is fully forgiven after five years of continued ownership and occupancy. There is no requirement to be a first-time homebuyer, and applicants do not need perfect credit.

"This assistance is more than just financial—it’s about restoring stability and hope for families who may have lost jobs, had to relocate, or were generally impacted by living in high-fire-risk areas during the 2017 wildfires," says Sonoma County Supervisor, James Gore.

Upcoming Workshops

Workshops will be held throughout February in the evening from 7:00 p.m. to 8:00 p.m. to provide valuable information on eligibility, the application process, and how the program can assist participants in purchasing a home. Upcoming workshops are scheduled for:

• Feb. 12 in Santa Barbara
• Feb. 13 in Simi Valley
• Feb. 20 in Ukiah
• Feb. 25 in Santa Rosa
• Feb. 26 in Clearlake
• Feb. 27 in Napa
• Feb. 28 in Marysville

Eligibility and Funding

To qualify for the current funding (approximately $9 million), applicants must meet household income limits, which generally cap at 80% of the area median income for LMI families, and have had a primary residence in 2017 within a High or Very High Fire Severity Zone in the following areas:

• County of Sonoma
• County of Ventura
• Zip Code 95470 (Mendocino County)
• Zip Code 95901 (Yuba County)
• Zip Code 94558 (Napa County)
• Zip Code 95422 (Clearlake, Lake County)
• Zip Code 93108 (Montecito, Santa Barbara County)

How to Register

To register and attend an upcoming workshop, visit the GSFA website at www.gsfahome.org.

The ReCoverCA Homebuyer Assistance Program is provided by the California Department of Housing and Community Development, funded by a HUD Community Development Block Grant - Disaster Recovery grant and managed by Golden State Finance Authority (GSFA), a public entity and agency in California.

Complete program policies, eligibility requirements, interest rates, APRs, and loan applications are available through a network of ReCoverCA HBA Lenders, published on the GSFA website www.gsfahome.org.

© 2025 Golden State Finance Authority. All rights reserved.

This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Complete program policies, eligibility requirements, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.

For questions or additional assistance regarding this news bulletin, please Contact Us.

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