|
Golden State Finance Authority (GSFA) is pleased to announce that ReCoverCA Homebuyer Assistance (HBA) Program funds are now available for households that were renters or previous homeowners in areas affected by the 2023 and 2024 California floods. Applications can be submitted through a ReCoverCA HBA Lender.
From now through January 12, 2026, priority will be given to households that can demonstrate they were impacted by a flood event.
Qualifying Disaster Areas
Applicants must have lived in a HUD-designated Most Impacted and Distressed (MID) area at the time of the disaster and qualify as a first-time homebuyer.
-
2023 MID Areas: Hoopa Valley Tribe (ZIP 95546), as well as Monterey, San Benito, Santa Cruz, Tulare, and Tuolumne Counties.
-
2024 MID Area: San Diego County.
About the Program
The ReCoverCA HBA Program helps low- and moderate-income households impacted by recent disasters transition into long-term homeownership outside flood or high fire areas of California.
Eligible applicants may receive up to $300,000 in forgivable homebuyer assistance (HBA)—at 0% interest and with no monthly payments—to bridge the affordability gap between their first mortgage and the total cost of purchasing a home. Assistance can cover down payment, closing costs, and prepaid expenses. The HBA loan is fully forgiven after five years of owner occupancy.
Applicant Advantages
- Up to $300,000 in home purchase assistance
- Assistance forgiveness after 5 years of ownership and occupancy
- HBA funds can be used for down payment, closing costs, and prepaids
- Encourages relocation to safer housing outside high-risk zones
| 
