San Mateo County EDPAP (Employee Down Payment Assistance Program)

What is San Mateo County EDPAP (Employee Down Payment Assistance Program)?

San Mateo County EDPAP (Employee Down Payment Assistance Program) is a deferred second loan for homebuyers in San Mateo County, California.

• $100,000 second mortgage loan for County of San Mateo and Housing Authority employees to purchase in San Mateo County. Deferred 5 years then 3% interest. Additional $5,000 closing cost grant if currently living outside the County. Encourages employees to live where they work.
• Up to $100,000 in assistance.
• no monthly payments on DPA.
• Funding comes from County.

How much assistance does it provide?

San Mateo County EDPAP (Employee Down Payment Assistance Program) offers up to $100,000 in assistance.

• The program asks buyers to contribute 3% 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.

Do you have to pay it back?

San Mateo County EDPAP (Employee Down Payment Assistance 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 employment separation.
• 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.

Who qualifies?

San Mateo County EDPAP (Employee Down Payment Assistance Program) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

San Mateo County EDPAP (Employee Down Payment Assistance Program) sets its income limit as follows: Contact program provider for current income limits.

• 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.

What kind of home can it be used for?

San Mateo County EDPAP (Employee Down Payment Assistance Program) caps the purchase price as follows: Conforms to FHA/conventional high-balance limits for this high-cost county; contact program for current limits.

• Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

San Mateo County EDPAP (Employee Down Payment Assistance Program) serves buyers purchasing in San Mateo County, California.

How do you apply?

Applications for San Mateo County EDPAP (Employee Down Payment Assistance Program) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

3. 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.