Escondido HELP Program

• Silent 2nd mortgage for $25,000
   
• Can be applied toward down payment or closing costs
   
• Maximum purchase price is $498,750 for a house and $298,300 for a condo.
   
• Income limited to 80% of Area Median Income (AMI). The income is calculated by adding the incomes of all wage earners in the household, regardless of whether they will be on the loan or not.
   
• No equity sharing with the city upon resale
   
• No borrower asset reserve or minimum down payment requirements.
   
• No city property inspection of the property is performed, as is the case with some of the other local programs.
   
• The property must be vacant at the time that the purchase contract is completed.
   
• Buyer must take a HUD-Approved Course

I am approved with the City of  Escondido as a loan officer qualified to provide all Escondido program loans.

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