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.

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

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.

San Mateo County EDPAP (Employee Down Payment Assistance 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 San Mateo County; must be county employee. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

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.

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.

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

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. 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.