Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program is a deferred second loan for homebuyers in Santa Barbara County, California. 30-year deferred down payment loan up to $100,000 for first-time low-income homebuyers in North Santa Barbara County. Provides financing to enable conventional mortgage qualification. Up to $100,000 in assistance. no monthly payments on DPA. Funding comes from Non-profit / County.

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, transfer, or non-occupancy. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required, through HUD-approved homebuyer counseling agency. Residency requirement: Purchase in North Santa Barbara County. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Must purchase in Santa Barbara County; must work in Santa Barbara County (workforce program); income ≤80-150% AMI depending on tier; deferred loan for north county, interest-only for south coast.

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size. Low income: household income ≤80% of Area Median Income (AMI). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program caps the purchase price at $900,000. Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program serves homebuyers purchasing in Santa Barbara County, California.

Applications for Housing Trust Fund Santa Barbara North County Workforce Homebuyer Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.