Redwood Valley families who lived through the nightmare of the October 2017 wildfires now have a serious boost on the table: state disaster-recovery money that can put up to $350,000 toward a home in a lower fire-risk area.
The ReCoverCA Homebuyer Assistance program is offering deferred, forgivable loans that can be used for down payments and closing costs. County and program officials say the funding is meant to give low-income households from ZIP code 95470 a real path to long-term, safer homeownership after the devastation of the 2017 Redwood Complex fires.
How the aid works
The assistance comes as a zero-interest, deferred-payment loan with no monthly payments, and it does not stick around forever. According to the Golden State Finance Authority, the loan is forgiven at a rate of 20% for each year the homeowner lives in the property. Stay put for five years and the debt is fully wiped out.
GSFA says the money is designed to bridge the affordability gap for survivors of the fires, with funds that can cover down payments and closing costs up to $350,000 per household. The program is part of California’s Disaster Recovery Action Plan and is funded through a HUD Community Development Block Grant-Disaster Recovery allocation.
Who qualifies
Program managers are focusing on low- and moderate-income households that lived in the 95470 ZIP code in 2017, the area that includes Redwood Valley, SFGATE reports.
GSFA marketing director Carolyn Sunseri told the outlet that applicants generally must meet income limits and cannot own a home at the time they apply. She also said awards so far have averaged roughly $300,000. Local lenders will screen applications, checking residency and income before any awards are approved.
Why it matters locally
The 2017 Redwood Complex burned roughly 36,000 acres and destroyed hundreds of homes in Redwood and Potter valleys, according to Cal Fire incident updates. The disaster tightened an already limited housing supply and left many families scattered and displaced.
That aftermath is a big reason state officials singled out ZIP code 95470 for the 2017 Fire Recovery allocation. Program supporters say the assistance is meant to function as both a housing solution and a resilience strategy for communities that are still trying to regain their footing nearly a decade after the flames.
How to apply
Interested residents are directed to contact an approved ReCoverCA HBA lender or visit the program page for detailed policies, eligibility screening, and a list of participating lenders, according to the Golden State Finance Authority.
The California Department of Housing and Community Development also maintains ReCoverCA program information and a hotline for questions. Applicants work with participating lenders to submit documentation proving their 2017 residency in ZIP code 95470, their household income, and any other required information.
