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First Time Home Buyer
Mortgage Assistance

Habitat Monterey Bay helps first-time homebuyers looking to purchase a home in Santa Cruz County. Eligible households can qualify for up to $100,000 in mortgage assistance to help with the down payment on a single-family home, condo, or townhome. 

Program Details

  • Up to $100,000 in gap financing to help families put a down payment on a home

  • 0% interest loan, payable at 30 years funded by CalHome; no interim payments required

  • Total Housing costs (Sum of Third-party mortgage payments, HOA fees, monthly insurance and property taxes) to be less than 30% of monthly income

  • Can help households save on interest during the lifetime of the loan

Eligibility Requirements

  • Low-income (income not to exceed 80% of the area median income, adjusted for family size)

  • Credit score (minimum 650)

  • Must be a first-time homebuyer (have not owned a home in the last 3 years)

  • All people on the loan must also be included in the title

  • Applicant must be a US Citizen or Legal permanent residency

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