We sponsor a variety of loan programs to help families with different incomes and housing needs become homeowners. There are programs to help you purchase single-family homes, condominiums, and townhouses at several locations within the City limits of San Mateo. The City provides loans in various amounts that do not require immediate payments.
How do I know if I qualify?
The first step in determining whether you qualify for the loan programs is to review your gross household income against the following table:
Household
Size
2008 Maximum
Yearly Income
Maximum
Monthly Income
1
$79,800
$6,650
2
$91,200
$7,600
3
$102,600
$8,550
4
$114,000
$9,500
5
$123,100
$10,258
6
$132,200
$11,017
*Notes Regarding Borrower Eligibility: “First Time Homebuyer” means that you have not owned a principle residence for the past three (3) years, or are a single parent with a dependent child living with you. For all programs the maximum income of qualifying borrowers is 120% of the area median income (adjust annually); please see the Income Qualifications Table above for more specific information.
You must be able to qualify for a mortgage loan from a private lender. Eligibility for a mortgage will depend on purchase price and your income, assets, and credit rating.
What costs are there?
While the loan programs help you with reduced interest rates and deferred payments, you will need to pay a down payment and closing costs. The minimum down payment varies from 3% to 10% of the purchase price. Closing costs are items such as loan fees, escrow fees, title insurance, home inspection, and credit fees.
Summary of Homebuyer Opportunities
First Time Homebuyers
Eligible Buyers*: First Time Homebuyers
Available Properties: Participating condominium complexes
Available Loans: Varies with cost of unit
Other Highlights and Requirements:
No payment due until you sell the unit. Interest payment is waived if you sell to a new eligible buyer.
The City retains first right of purchase; resale price restrictions apply.
Below Market Rate (BMR)
Eligible Buyers*: Priority for First Time Homebuyers
Available Properties: Residences throughout the City
Available Loans: No financing available from the City
Other Highlights and Requirements:
Units are sold below market and carry a permanent price restriction which is adjusted annually.
The National Homebuyers Fund is a non profit organization. The ACCESS program is desinged to help low and moderate income homebuyers purchase a home even if they don’t have funds for a traditional down payment or closing costs.
One great benefit of the NFH ACCESS program is that it is backed by private financing which provides for a ongoing source of funds unlike many county and state programs that have limited funds.
Program Details
Eligible Buyers: There are no restrictions for buyers other than those imposed by the First Mortgage. Eligible loan programs for the first mortgage are Fannie Mae’s FLEX 97 and MyCommunity 97. No first time home buyer requirement. Property must be owner occupied.
Maximum Assistance: Up to 8% of the Purchase Price of the Home
Interest Rate: The higher of 2% above note rate or 8% in targeted areas
Payments/Recapture: Fully amortized 20 year fixed rate second mortgage. No penalties for early pay-off
Eligible Properties: Attached or Detached Single Family Residence, Attached or Detached PUD, Low-Rise Condos, High-Rise Condo’s, 2-4 Units for Flex programs only. All properties must be owner occupied.
Counties Eligible: Alameda, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Lassen, Los Angeles, Madera, Marin, Mendocino, Merced, Modoc, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Clara, Santa Barbara, Santa Clara, Santa Cruz, Shasta, Sierra, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Tuolumne, Ventura, Yolo, Yuba
Cities Eligible: Adelanto, Agoura Hills, Alameda, Albany, Alhambra, Aliso Viejo, Alturas, Amador City, American Canyon, Anaheim, Anderson, Angels Camp, Antioch, Apple Valley , Arcadia, Arcata, Arroyo Grande, Artesia, Arvin, Atascadero, Atherton , Atwater, Auburn, Avalon, Avenal, Azusa, Bakersfield, Baldwin Park, Banning, Barstow, Beaumont, Bell Gardens, Bell, Bellflower, Belmont, Belvedere, Benicia, Berkeley, Beverly Hills, Big Bear Lake, Biggs, Bishop, Blue Lake, Blythe, Bradbury, Brawley, Brea, Brentwood, Brisbane, Buellton, Buena Park, Burbank, Burlingame, Calabasas, Calexico, California City, Calimesa, Calipatria, Calistoga, Camarillo, Campbell, Canyon Lake, Capitola, Carlsbad, Carmel-by-the-Sea, Carpinteria, Carson, Cathedral City, Ceres, Cerritos, Chico, Chino Hills, Chino, Chowchilla, Chula Vista, Citrus Heights, City of Commerce, City of Industry, Claremont, Clayton, Clearlake, Cloverdale, Clovis, Coachella, Coalinga, Colfax, Colma , Colton, Colusa, Compton, Concord, Corcoran, Corning, Corona, Coronado, Corte Madera , Costa Mesa, Cotati, Covina, Crescent City, Cudahy, Culver City, Cupertino, Cypress, Daly City, Dana Point, Danville , Davis, Del Mar, Del Rey Oaks, Delano, Desert Hot Springs, Diamond Bar, Dinuba, Dixon, Dorris, Dos Palos, Downey, Duarte, Dublin, Dunsmuir, East Palo Alto, El Cajon, El Centro, El Cerrito, El Monte, El Segundo, Elk Grove, Emeryville, Encinitas, Escalon, Escondido, Etna, Eureka, Exeter, Fairfax , Fairfield, Farmersville, Ferndale, Fillmore, Firebaugh, Folsom, Fontana, Fort Bragg, Fort Jones, Fortuna, Foster City, Fountain Valley, Fowler, Fremont, Fresno, Fullerton, Galt, Garden Grove, Gardena, Gilroy, Glendale, Glendora, Goleta, Gonzales, Grand Terrace, Grass Valley, Greenfield, Gridley, Grover Beach, Guadalupe, Gustine, Half Moon Bay, Hanford, Hawaiian Gardens, Hawthorne, Hayward, Healdsburg, Hemet, Hercules, Hermosa Beach, Hesperia, Hidden Hills, Highland, Hillsborough , Hollister, Holtville, Hughson, Huntington Beach, Huntington Park, Huron, Imperial Beach, Imperial, Indian Wells, Indio, Inglewood, Ione, Irvine, Irwindale, Isleton, Jackson, Kerman, King City, Kingsburg, La Cañada Flintridge, La Habra Heights, La Habra, La Mesa, La Mirada, La Palma, La Puente, La Quinta, La Verne, Lafayette, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Elsinore, Lake Forest, Lakeport, Lakewood, Lancaster, Larkspur, Lathrop, Lawndale, Lemon Grove, Lemoore, Lincoln, Lindsay, Live Oak, Livermore, Livingston, Lodi, Loma Linda, Lomita, Lompoc, Long Beach, Loomis , Los Alamitos, Los Altos Hills , Los Altos, Los Angeles, Los Banos, Los Gatos , Loyalton, Lynwood, Madera, Malibu, Mammoth Lakes , Manhattan Beach, Manteca, Maricopa, Marina, Martinez, Marysville, Maywood, McFarland, Mendota, Menifee, Menlo Park, Merced, Mill Valley, Millbrae, Milpitas, Mission Viejo, Modesto, Monrovia, Montague, Montclair, Monte Sereno, Montebello, Monterey Park, Monterey, Moorpark, Moraga , Moreno Valley, Morgan Hill, Morro Bay, Mount Shasta, Mountain View, Murrieta, Napa, National City, Needles, Nevada City, Newark, Newman, Newport Beach, Norco, Norwalk, Novato, Oakdale, Oakland, Oakley, Oceanside, Ojai, Ontario, Orange Cove, Orange, Orinda, Orland, Oroville, Oxnard, Pacific Grove, Pacifica, Palm Desert, Palm Springs, Palmdale, Palo Alto, Palos Verdes Estates, Paradise , Paramount, Parlier, Pasadena, Paso Robles, Patterson, Perris, Petaluma, Pico Rivera, Piedmont, Pinole, Pismo Beach, Pittsburg, Placentia, Placerville, Pleasant Hill, Pleasanton, Plymouth, Point Arena, Pomona, Port Hueneme, Porterville, Portola Valley , Portola, Poway, Rancho Cordova, Rancho Cucamonga, Rancho Mirage, Rancho Palos Verdes, Rancho Santa Margarita, Red Bluff, Redding, Redlands, Redondo Beach, Redwood City, Reedley, Rialto, Richmond, Ridgecrest, Rio Dell, Rio Vista, Ripon, Riverbank, Riverside, Rocklin, Rohnert Park, Rolling Hills Estates, Rolling Hills, Rosemead, Roseville, Ross , Sacramento, Salinas, San Anselmo , San Bernardino, San Bruno, San Carlos, San Clemente, San Diego, San Dimas, San Fernando, San Francisco, San Gabriel, San Jacinto, San Joaquin, San Jose, San Juan Bautista, San Juan Capistrano, San Leandro, San Luis Obispo, San Marcos, San Marino, San Mateo, San Pablo, San Rafael, San Ramon, Sand City, Sanger, Santa Ana, Santa Barbara, Santa Clara, Santa Clarita, Santa Cruz, Santa Fe Springs, Santa Maria, Santa Monica, Santa Paula, Santa Rosa, Santee, Saratoga, Sausalito, Scotts Valley, Seal Beach, Seaside, Sebastopol, Selma, Shafter, Shasta Lake, Sierra Madre, Signal Hill, Simi Valley, Solana Beach, Soledad, Solvang, Sonoma, Sonora, South El Monte, South Gate, South Lake Tahoe, South Pasadena, South San Francisco, St. Helena, Stanton, Stockton, Suisun City, Sunnyvale, Susanville, Sutter Creek, Taft, Tehachapi, Tehama, Temecula, Temple City, Thousand Oaks, Tiburon , Torrance, Tracy, Trinidad, Truckee , Tulare, Tulelake, Turlock, Tustin, Twentynine Palms, Ukiah, Union City, Upland, Vacaville, Vallejo, Ventura, Vernon, Victorville, Villa Park, Visalia, Vista, Walnut Creek, Walnut, Wasco, Waterford, Watsonville, Weed, West Covina, West Hollywood, West Sacramento, Westlake Village, Westminster, Westmorland, Wheatland, Whittier, Williams, Willits, Willows, Windsor , Winters, Woodlake, Woodland, Woodside , Yorba Linda, Yountville , Yreka, Yuba City, Yucaipa, Yucca Valley
The City of Huntington Beach uses funds from the Orange County Housing Assistance Program. This program provides for a silent second mortgage loan program for low-income first-time home buyers; principal and interest payments deferred for term of loan due in 30th year or upon sale or transfer of property, when property ceases to become owner-occupied, or upon repayment or refinancing of first mortgage, whichever comes first.
Program Details
Eligible Buyers:
All buyers on title must be first-time homebuyers defined as follows: • Someone who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property; or
• A displaced homemaker (see CalHome Definition) who
owned a home; or
• A single parent (unmarried or legally separated) who
owned a home with custody of minor child(ren); or
Payments/Recapture: Silent Second no monthly payments. Loan is due in 30 years or sooner if property is sold or transferred
Eligible Properties: Family must purchase an existing single family detached home. Condominiums & town homes are permitted.
Eligible Cities/Areas: County of Orange unincorporated areas (not yet incorporated into a city) and the cities of Brea, Cypress, Dana Point, La Palma, Laguna Beach, Laguna Hills, Laguna Woods, Los Alamitos, Placentia, Seal Beach, Stanton, Villa Park and Yorba Linda.
Silent second mortgage loan program for low-income first-time homebuyers; principal and interest payments deferred for term of loan due in 30th year or upon sale or transfer of property, when property ceases to become owner-occupied, or upon repayment or refinancing of first mortgage, whichever comes first.
Program Details
Eligible Buyers:
All buyers on title must be first-time homebuyers defined as follows: • Someone who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property; or
• A displaced homemaker (see CalHome Definition) who
owned a home; or
• A single parent (unmarried or legally separated) who
owned a home with custody of minor child(ren); or
Payments/Recapture: Silent Second no monthly payments. Loan is due in 30 years or sooner if property is sold or transferred
Eligible Properties: Family must purchase an existing single family detached home. Condominiums & town homes are permitted.
Eligible Cities/Areas: County of Orange unincorporated areas (not yet incorporated into a city) and the cities of Brea, Cypress, Dana Point, La Palma, Laguna Beach, Laguna Hills, Laguna Woods, Los Alamitos, Placentia, Seal Beach, Stanton, Villa Park and Yorba Linda.
Contribute Home Buyer Comments: Please keep this site up to date and relevant by making comments if you have used this program or are in the process of using it now. By sharing this information it helps all Home Buyers stay informed and up to day.
Payments/Recapture: Silent Second no monthly payments.
Eligible Properties: Family must purchase an existing single family detached home. Condominiums & town homes are permitted.
Eligible Cities/Areas: Family must purchase in the Counties of San Bernardino or Riverside
Contribute Home Buyer Comments: Please keep this site up to date and relevant by making comments if you have used this program or are in the process of using it now. By sharing this information it helps all Home Buyers stay informed and up to day
First Time Home Buyer Down Payment Assistance is available for First Time Home Buyers within the city limits of San Bernardino. Down Payment Assistance is a silent second at 0% interest that is forgiven after 45 years.
Program Details
Eligible Buyers: First Time Home Buyers - Can not have owned a home in past 3 years
Payments/Recapture: The loan must be repiad when the home is sold, transferred, refinanced, or converted to a rental property, plus a certain percentage in equity share depending when the home is sold or refinaced within the specified Residency Period.
Eligible Properties: Family must purchase an existing single family detached home. Condominiums, manufactured homes on a permanent foundation & town homes are permitted.
Eligible Cities/Areas: City limits of San Bernardino
Contribute Home Buyer Comments: Please keep this site up to date and relevant by making comments if you have used this program or are in the process of using it now. By sharing this information it helps all Home Buyers stay informed and up to day.
We sponsor a variety of loan programs to help families with different incomes and housing needs become homeowners. There are programs to help you purchase single-family homes, condominiums, and townhouses at several locations within the City limits of San Mateo. The City provides loans in various amounts that do not require immediate payments.
