The City of Riverside administers its own program, while Riverside County makes the MCC available to people living in unincorporated areas and 17 participating cities.
Stephanie Young, MCC program administrator with the Redevelopment Agency of the city of Riverside, said the city received its first funding allocation in 1992 and was granted more money in January.
Residents who are interested in applying may contact Young at (909) 715-3500 for a list of more than 50 approved lenders and brokers.
Within the city, income limits for single or two-person households are $46,400, while those with three or more people can earn up to $53,400. People willing to buy homes in target areas must meet income limits of $55,700 (one or two persons) and $65,000 (three or more).
The city of Riverside set its maximum purchase price at $149,600 for new homes and $160,200 for resales. Residents buying within a target area may spend up to $182,800 for a new home and $195,900 to purchase an existing home.
Deanna Lorson, who administers the county's MCC program, said the county includes all unincorporated areas as well as 17 cities that signed on to participate. There are about 150 approved lenders from which to choose.
Riverside County set its income limits for single or two-person households at $46,400, while those with three or more people can earn up to $53,360. People willing to buy homes in target areas have income limits of $55,680 (one or two persons) and $64,960 (three or more).
The county's maximum acquisition cost is $149,599 for new homes and $160,249 for resales. Residents buying within a target area may spend up to $182,843 for a new home and $195,589 to purchase an existing home.
For more information about the county's program, call Lorson at (909) 275-3100 or (800) 339-3060.