SANTA CRUZ COUNTY FIRST TIME HOME BUYER ASSISTANCE PROGRAMS
As a First Time Home Buyer in Santa Cruz County there are several programs through the County and Cities of Scotts Valley, Watsonville and Santa Cruz that can help you afford to buy a home in Santa Cruz County.
Most of the first time home buyer assistance programs do have income limits. For example to qualify for the City of Santa Cruz Downpayment Assistance Program a single person must make less than $54,050, a couple $61,800. These income limits do change periodically.
Here is brief synopsis of some of the programs for First Time Home Buyers in Santa Cruz County:
Measure J - This program applies to properties located in the County of Santa Cruz and only works for properties classified as Measure J units. The current income limit is $70,750 for 1 person, $80,850 for 2 people. Contact me for a list of Measure J homes for sale.
Measure O - This program is for units located in the City of Santa Cruz only for units classified as Measure O properties. Income limits are similar to Measure J. Contact me for a list of Measure O homes for sale.
County of Santa Cruz Down payment Assistance Program: The County may lend up to 25% of the sale price. There is no interest charged but they take a share of the appreciation when the home is resold. The sale price limit currently is $385,000.
City of Santa Cruz Downpayment Assistance Program: The City of Santa Cruz will lend a to be determined amount and charges 3% simple annual interest. The sale price limit is $432,250 currently.
City of Watsonville Downpayment Assitance Program: The City of Watsonville may lend up to $50,000 depending on the property. The interest is deferred for the life of the loan and the share appreciation when the home is resold. Sale price is restricted to $375,250 and under.
City of Scotts Valley Downpayment Assistance Program: The City of Scotts Valley may lend up to $60,000. There is no interest charged - they share appreciation upon the sale of the home.
Santa Cruz Housing Grant Foundation: The Housing Foundation helps First Time Home Buyers with closing costs for properties in all of the County of Santa Cruz. They will grant between $1000 to $3000.
With the decline in home prices over the past few years in Santa Cruz County first time home buyers are in a better position than ever to achieve home ownership in Santa Cruz. These programs can help. For more info about these programs and how to buy a foreclosure or short sale feel free to contact me anytime.
FHA loans are also a great option for First Time Homebuyers and there are some FHA approved condos in Santa Cruz
Written by Jessica Wallace, Santa Cruz Realtor
Your Santa Cruz Realtor - Jessica Wallace (831) 419-9345
I'm Jessica Wallace - Your Santa Cruz Realtor - You can reach me anytime at (831) 419-9345 or via email at cjess4homes@yahoo.com
I look foward to hearing from you!
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