San Joaquin County GAP Loan Program

San Joaquin County GAP Loan Program is a deferred second loan for homebuyers in San Joaquin County, California. Deferred down payment assistance loan: 20% of sales price up to $40,000 (lesser) for low-income first-time buyers in unincorporated San Joaquin County and cities of Escalon and Lathrop. Loan can range $40,000–$80,000 depending on purchase price. Up to $80,000 in assistance. no monthly payments on DPA. Funding comes from Federal HOME / County.

San Joaquin County GAP Loan Program provides assistance worth 20% of the purchase price, as set by the program. The program asks homebuyers to contribute 1% of purchase price (borrower minimum). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

San Joaquin County GAP Loan 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.

San Joaquin County GAP Loan 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. Residency requirement: Purchase in unincorporated San Joaquin County or participating cities. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Must purchase in unincorporated San Joaquin County or participating city; income ≤80% AMI; deferred 0% loan; repaid at sale/refi; 30-year term.

San Joaquin County GAP Loan 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.

San Joaquin County GAP Loan Program caps the purchase price at $500,000. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

San Joaquin County GAP Loan Program serves homebuyers purchasing in San Joaquin County, California.

Applications for San Joaquin County GAP Loan 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.