San Diego Down Payment Assistance
Your Trusted San Diego DPA Mortgage Lender
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San Diego Down Payment Assistance Mortgage Lender
As a direct San Diego Mortgage Lender, Capital Home Mortgage San Diego is a San Diego Down Payment Assistance Program Lender offering San Diego Down Payment Assistance Programs. As the San Diego Mortgage Company we manage the entire lending process from start to finish. With in-house processing and underwriting, we provide quick, common-sense approvals and timely closings.
Give us a call today at (888) 620-7744 to speak with one of our knowledgeable San Diego Loan Officers and get started on your path to homeownership!
San Diego Housing Commision (SDHC) First Time Homebuyer Program
The San Diego Housing Commission (SDHC) First-Time Homebuyer Program is designed to help low- and moderate-income families achieve homeownership in San Diego. The program provides financial assistance for down payments, closing costs, or both, making it more feasible for first-time buyers to purchase a home. Below are the key details of the program:
San Diego Financial Assistance
- Types of Assistance Available
- Loans to help with down payment and closing costs.
- No monthly payments are required until the home is sold, refinanced, or ceases to be the borrower’s primary residence.
- Closing Cost Assistance Grants:
- Non-repayable grants to cover closing costs for eligible homebuyers.
- Loan Amount
- Up to 22% of the home’s purchase price for a deferred loan.
- Maximum loan amounts and grants depend on program funding and applicant eligibility.
- Loan Terms
- Borrowers must secure a first mortgage through a participating lender.
- Deferred-Payment: No monthly payments during the loan term.
- Repayment due upon sale, transfer, or refinancing of the property, or if the home is no longer the primary residence.
- Shared Appreciation: In some cases, the borrower may need to repay the loan plus a share of the home’s appreciation in value.
San Diego DPA Eligibility Requirements
- First-Time Homebuyer: Applicants must not have owned a home in the last three years.
- Income Limits: Household income limits based on the Area Median Income (AMI) for San Diego.
- Applicants must complete a HUD-approved homebuyer education course.
San Diego Eligible Properties
- The property must be located within the City of San Diego.
- Single-family homes, condominiums, or townhomes.
- Must be the borrower’s primary residence.
- Purchase price limits apply (subject to program guidelines).
San Diego DPA Application Process
- Determine Eligibility: Review income, household size, and other requirements listed on the SDHC website.
- Complete Homebuyer Education: Enroll in a HUD-certified homebuyer education course and receive a certificate of completion.
- Get Pre-Approved: Work with a participating lender to get pre-approved for a primary mortgage loan.
- Submit an Application: Submit your application for assistance through the SDHC or an approved partner agency.
San Diego DPA Program Benefits
- Reduces the upfront costs of homeownership.
- Helps bridge the affordability gap in San Diego’s competitive housing market.
- Provides a pathway to stable housing and equity-building opportunities.
Important Considerations of the San Diego DPA
For more information, including current income limits, purchase price limits, and application details, visit the San Diego Housing Commission (SDHC) website or contact their office directly.
- Assistance funds are limited and may be distributed on a first-come, first-served basis.
- Homebuyers must adhere to program rules and use the home as their primary residence.
San Diego Mortgage Team
Why San Diego is Choosing Capital Home Mortgage
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California Mortgage Programs
California Purchase Home Loans
Looking to Purchase in California?
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California Rate & Term Refinance
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California Equity Cash Out Mortgage
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California FHA Home Loans
Great First Time California Homebuyers
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California VA Home Loans
100% Financing for California Veterans
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California Rural Home Mortgages
- Primary Residences
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- Primary Residence Only
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California Conventional Home Loans
Flexibility for California Homebuyers
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California Non-Conforming Mortgages
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Looking to Renovate a California Home?
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Making California Mortgages Possible
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California Chattel Home Loans
Loans for Just Your California Home
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California Manufactured Home Loans
Great California Affordable Housing
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- One Time Close Land/Home Combo
- Lock at Contract
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California Disaster Relief Home Loans
Helping California Homeowners Recover
- Purchase a New Home
- Primary Residence Only
- Minimum Credit 580
- Maximum LTV 100%
- Maximum County Loan Limits Apply