First-time Homebuyer Programs in San Mateo County
www.smchousing.org Program Contact Loan Amount Terms Purchase Price Limit Detailed Information Link http://www.fostercit y.org/city_hall/uploa d/Brochure 92005.pdf Special Eligibility Other $400 processing fee. Additional $5k 0% Int. loan available to low income buyers forgiven after 5 yrs. CalHFA Partner Resale Restriction: Yes $400 processing fee. CalHFA Partner Resale Restriction: None Cannot be used with CalVET or CalHFA loans. No neg-am or gpm loans. Resale Restriction: None
FOSTER CITY Homebuyers Advantage & AdvantagePLUS MENLO PARK Purchase Assistance Loan (PAL) COUNTY OF SAN MATEO Mortgage Credit Certificate Program (MCC) COUNTY OF SAN MATEO Start/StartPLUS Down Payment Assistance Program
San Mateo County Department of Housing (650) 802-5033 San Mateo County Department of Housing (650) 802-5033 San Mateo County Department of Housing (650) 802-5032 San Mateo County Department of Housing (650) 802-5033
Lesser of 25% of sales price or $75,000 Lesser of 20% of sales price or $75,000 15% Federal Tax Credit Can be used with any of the City Loan Programs
30 yrs at 3% - No Int. or pymts for 1st 5 yrs. Shared appreciation = to % of City’s loan. 35 yrs at 5% - No Int. or pymts for 1st 5 yrs. Good for the life of the original loan. Certificate can be reissued after refinance.
None
Assets cannot exceed lesser of 50% of sales price or $100k. Must live or work in City at time of application. Assets cannot exceed 50% of sales price. Must live or work in City for 1 year at time of application. Maximum Gross Income:
None Existing: $ 697,987 New Const: $ 603,478
http://www.menlop ark.org/department s/hsg/pal.htm
Not available at this time
1-2 Persons = $ 95,000 3+ Persons = $ 109,250
This program is currently unavailable due to lack of funds. Please periodically check back with our office by calling (650) 802-5033 to find out the status of the program. The message will be updated when funds are available.
San Mateo County Income Limits (Low) Household Size 1 person 2 persons 3 persons 4 persons Income Limits $ 63,350 $ 72,400 $ 81,450 $ 90,500 Household Size 5 persons 6 persons 7 persons 8 persons Contact (916) 322-3991 www.calhfa.ca.gov (415) 561-5600 www.myhomegateway.com/index.php/item/267 Income Limits $ 97,700 $104,950 $112,200 $119,450
San Mateo County Income Limits (Moderate) Household Size 1 person 2 persons 3 persons 4 persons Income Limits $ 79,800 $ 91,200 $ 102,600 $ 114,000 Description CalHFA Homeownership Programs provide affordable housing opportunities by offering below market rate mortgage programs to very low-to-moderate income first time homebuyers. For further information, please call CalHFA or visit their website. Offers a program for the City of South San Francisco. Please contact the program administrator for further details.
Revised June 2008
Household Size 5 persons 6 persons 7 persons 8 persons
Income Limits $ 123,100 $ 132,250 $ 141,350 $ 150,500
Alternate Agencies California Housing Finance Agency (CalHFA) First Home, Inc.