Who qualifies as a first-time home buyer? If you have not owned a home in the last 3 years, you may qualify as a first-time home buyer and take advantage of the following programs:
San Diego Housing Commission – Eligible buyers earning no more than 80 percent of San Diego’s Area Median Income may qualify for a deferred-payment, second trust deed loan of up to 22 percent of the purchase price (based on the buyer’s need), with the interest rate set at 3 percent. Please click here for more details.
Applying for the First-time Homebuyer Programs
- Contact a loan officer from our Participating Lender list. The loan officer will be the primary point of contact from pre-approval to loan closing. The loan officer collects all required documentation and submits the application on the borrower’s behalf to SDHC.
- Review San Diego’s Area Median Income (AMI) limits to confirm your household annual gross income (before taxes) does not exceed the limit for your family size. This includes the income of all adult household members.
- Review the program descriptions and guidelines for the appropriate jurisdiction (e.g., City of San Diego, County of San Diego etc.) found below under Forms and Documents.
- Attend a Homebuyer Education Course with an SDHC-approved provider.
- Work with a real estate agent to find a property.