Santa Cruz loan program for low income first time buyers.
Good News for some… The City of Santa Cruz has a first time homebuyer funding called (“HOME” funds) It’s a program designed to help low income first time buyers. And its available in the form of a “Silent Second” mortgage. Silent second mortgage requires no monthly payment of principal until one of several events occur at a point in the future.
This Silent Second is designed to fill the gap that the buyer will qualify for from a lender and the amount of the purchase. It acts as a down payment. It’s based on the property, the price, location, buyers income and it even pays the closing costs. Application and information can be obtained from The City of Santa Cruz Housing Programs Corrdinator.
Many cities offer similar programs. Look into it, well worth the effort.
Programs, funds, availabilty, restrictions, and conditions change. Up to date information is best obtained by the Housing Progam.
Santa Cruz Real Estate.
Call me at: 831-588-7767
Santa Cruz Real Estate, Pleasure Point Real Estate,
Live Oak Real Estate, Capitola Real Estate
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