• Your household gross income is less
than or equal to 80% of the County’s
median annual income.
• You have not owned a principal residence
for the past 3 years.
• You qualify for a first loan.
• Interest Rate: 3% simple non compounding
fixed interest rate
• Homeowner Contribution: 3% down (if
an FHA loan, 3.5% down )
• Loan Term: 50-year note
• Payment Type: Start payment after 20
years or when the house is sold, transferred,
Homebuyers’ annual income shall not be
more than 80% of the area median income,
as determined by HUD, adjusted for family
size. In addition, assets shall not exceed these
Maximum Annual Household Income
Adjusted for Family Size
Effective May 31, 2011
Household Size Maximum Annual
1. Application fee is a non-refundable $150
payable to the Housing Authority of San
2. Contact an approved lender to determine
3. Once you are pre-qualified, locate a
house to purchase.
4. Once your purchase offer is accepted and
escrow begins, your lender will assist you
to complete the application forms for the
FTHB loan program.
5. During escrow your lender will process
your loan application for the first loan
and FTHB second loan.
6. We will process your application within
45 days to close escrow.
7. When escrow closes, you will become a
homeowner and will be responsible for
monthly payments on your first loan.