El Cajon California Dream Program

• Up to 30% of purchase price as silent 2nd + $5,000 for closing costs
   
• Buyer needs to provide 1% down payment from own funds
   
• The 1% must have been in the bank for 3 months prior to close
   
• Income limited to 120% of the Area Median Income (AMI). Income from all income earners is added together to calculate qualifying income, regardless of whether the income earner will be on the loan.
   
• No interest, but there is equity sharing with the city upon resale, unless next buyer qualifies for same program
   
• Buyer must take HUD-Approved Course

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