The Inland Empire Community Foundation (IECF) and Neighborhood Partnership Housing Services, Inc. (NPHS) are excited to introduce the Inland Empire Down Payment Assistance Program (IEDPA), a transformative initiative designed to make homeownership more accessible for low- and moderate-income families in Riverside and San Bernardino counties.
With a generous $1 million investment from U.S. Bank, this program will provide critical financial assistance to first-time homebuyers, helping to close the region’s widening wealth gap and create opportunities for generational financial security.
Breaking Barriers to Homeownership
For many families, the biggest obstacle to purchasing a home is the down payment and closing costs. With home prices skyrocketing—rising from a median of $267,000 in 2014 to $590,000 in 2024—the dream of homeownership has become increasingly out of reach. A decade ago, nearly half of Inland Empire households could afford to buy a home. Today, that number has dropped to just 30%.
To help bridge this affordability gap, the Inland Empire Down Payment Assistance Program will provide up to $40,000 in financial aid to qualifying first-time homebuyers. This assistance will come in the form of a deferred zero-percent loan for 30 years, meaning homeowners won’t have to make payments during that time, allowing them to focus on building equity and financial security.
A Collaborative Effort for Lasting Impact
IECF is partnering with NPHS to implement and manage the program, offering not just financial support, but also pre-purchase counseling, community outreach, and partnerships with local stakeholders.
“Access to homeownership is a cornerstone of economic mobility, and U.S. Bank is proud to work with IECF and NPHS to make this a reality for more families in the Inland Empire,” said Rossina Gallegos, community affairs manager at U.S. Bank. “This $1 million contribution will help break down barriers and create opportunities for homeownership in underserved communities.”
IECF CEO Michelle Decker echoed the importance of this initiative, emphasizing its potential to transform lives and strengthen the region’s economic health.
“We are thrilled to collaborate with U.S. Bank and NPHS to launch this transformative program,” Decker said. “By addressing the financial hurdles to homeownership, we can make a lasting impact on the lives of families and the economic health of our communities.”
NPHS CEO Clemente Mojica added that this initiative aligns with NPHS’s mission to create sustainable homeownership and economic stability.
“Through this community initiative, we strive to create life-changing opportunities for families who have long faced systemic obstacles to achieving the dream of homeownership,” Mojica said.
How to Apply
The Inland Empire Down Payment Assistance Program is now accepting applications. First-time homebuyers who meet eligibility requirements can learn more and apply by visiting nphsinc.org/iedpa.
With strategic partnerships and innovative financial solutions, IECF and NPHS are working to ensure that more families in the Inland Empire can achieve the dream of homeownership—a key step toward financial security and community prosperity.
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