Escondido First Time Home Buyer Program

Is An Escondido Home In Your Future?
The biggest hurdle faced by first-time homebuyers is usually coming up with enough money for the down payment and closing costs. The City of Escondido’s Homebuyer Entry Loan Program (HELP) or Home Ownership Made Easy Program (HOME) may provide the kind of assistance you need to help you buy your first home.

How Does The Program Work?
Eligible homebuyers may qualify for a low-interest loan limited to the lesser of 5% of the purchase price or a maximum amount of $25,000 that can be used toward the down payment and/or for closing costs. Repayment of the City’s loan is deferred until you sell, transfer, refinance or no longer live in the home as your principal residence.

Who Is Eligible For The Program?

You haven’t owned a home for at least 3 years
You have sufficient income and credit worthiness to qualify for a first mortgage loan from a participating program lender
Do not earn more than the incomes listed below for your family size.

Contact us today for income and monthly expense guidelines.

With as little as $44,000 to $63,400 yearly gross income for a single individual and $50,250 to $72,500 for a couple (income requirements vary depending on the number of persons in your family), you can qualify for one of these City of Escondido First Time Home Buyer programs.

Allen Meredith, CDPE, e-Pro