Santee Program

• Silent 2nd mortgage for an amount up to the lesser of $100,000 or 30% of purchase price
   
• Interest rate is 3%. Interest is forgiven if homeowner stays in the home for 10 years.
   
• Can be applied toward down payment or closing costs
   
• Purchase price cannot exceed $410,000
   
• Income limited to 80% of Area Median Income (AMI). This qualifying income is calculated by adding the income of all income earners in the household, regardless of whether they will be on the loan.
   
• Buyer needs to contribute 2% down payment from own funds
   
• Buyer needs to complete a HUD-Approved Course
   
• No equity sharing with the city upon resale.

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

The Santee Program is currently out of funding until at least July 2007.

Site Map  First Time Buyer In San Diego Home Page For Financial Assistance Programs