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(If you are a mortgage lender, click here.)
SDHC has helped more
than 4,300 families achieve the American dream of owning a home. Several
home buyer assistance programs are available, including deferred loans,
grants for down payments and closing costs, tax credits, and
opportunities to purchase homes at below-market-rate prices.
3% Interest Deferred Loan SDHC provides a 3% interest deferred loan, up to 25% of the purchase price. No payments are required for 30 years, unless you sell or refinance, at which time you are required to pay back the principal balance plus accrued interest. You must obtain a fixed-rate first trust deed loan to obtain the deferred loan, and have adequate income, acceptable credit history, and personal funds for a minimum 3% down payment. Applicants must attend a home buyer education class.
Grants for Down Payments and Closing Costs SDHC offers grants to help home buyers with a down payment or closing costs, up to $15,000 of the sales price. The grant must be paid back if the home is sold or refinanced within the first six years, after which it is forgiven.
Mortgage Credit
Certificates (MCC)
For-Sale Affordable Homes SDHC has helped create policies within the City of San Diego that require developers and original buyers to make new and resale homes available to eligible buyers below the market value. Depending on your household AMI, you may also apply to SDHC for a 3% Interest Deferred Loan, a grant for a down payment and closing costs, and an MCC, making the home even more affordable.
City of La Mesa Program SDHC administers the Down Payment/Closing Cost Assistance Loan Program for homes purchased in the City of La Mesa.
Related Documents
Census Tract Information, click here. |
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