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Essex Mortgage 10 Year Amortized 2 Plus

Statewide, California

Last verified
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Repayment

Grant

Not repaid

What is Essex Mortgage 10 Year Amortized 2 Plus?

Essex Mortgage 10 Year Amortized 2 Plus is a grant for homebuyers in Statewide, California.

  • Lender-administered repayable DPA. 10-year amortized second; borrower pays principal + interest.
  • Up to 2% of loan amount in DPA structured as a 10-year amortized second mortgage. Borrower pays principal + interest over 10 years.
  • Funding comes from Essex Mortgage.

Do you have to pay it back?

Essex Mortgage 10 Year Amortized 2 Plus is structured as a grant, so it is not repaid.

  • Repayment is triggered by per amortization schedule.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Essex Mortgage 10 Year Amortized 2 Plus is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (MULTI250164). Repayable second mortgage (not deferred). 10-year amortization. Combines with FHA or Conv first.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Essex Mortgage 10 Year Amortized 2 Plus sets its income limit as follows: Per first mortgage program guidelines.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Essex Mortgage 10 Year Amortized 2 Plus can be used for Single-family, Condo, Townhouse.

Where does it apply?

Essex Mortgage 10 Year Amortized 2 Plus serves buyers purchasing in Statewide, California.

How do you apply?

Applications for Essex Mortgage 10 Year Amortized 2 Plus go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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