First-Time Homebuyer Program

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County of San Diego First-Time Homebuyer Downpayment Assistance Program (HUD Funded)

City of San Marcos residents are eligible to apply for loan funds from the County of San Diego’s First-Time Homebuyer Program. The program offers a 3 percent interest, deferred-payment loan of up to 17 percent of the purchase price for down payment plus up to 4 percent of the purchase price for closing costs to purchase a single-family home, townhome or condominium in San Marcos for eligible households with incomes at or below 80 percent of County’s Area Median Income.   You will need to contribute a minimum of three percent of the purchase price and the home you buy must be your primary residence.  The purchase price may not exceed $427,500 for attached homes or $598,000 for detached homes.

Before you can use this program, you will need to complete an educational class provided by one of these organizations: HUD-approved Homebuyer Education Providers. First, you should talk to a lender (see participating lender list) about your ability to qualify for a mortgage. There are additional requirements that must be met. For more information, visit the San Diego County Homebuyer Program Website. This program is administered by the San Diego Housing Commission for the County of San Diego. (SDHC)

The First Three Steps to Apply for Funding for Your First Home

  1. You need to contribute a minimum of 3% of purchase price
  2. You need to secure a loan from one of the participating lenders
  3. Your loan officer will apply for the down payment and closing cost assistance from County of San Diego First-Time Home Buyer Down Payment and Closing Cost Assistance for you.  The participating lender’s loan officer collects all required documentation and submits your application to SDHC.  They will be the primary point of contact from pre-approval to loan closing. You don’t apply directly to the County of San Diego or the SDHC.

For more information, please see contact Beth Nielsen at (760) 744-1050, ext. 3178.

Si tiene preguntas en español favor de llamar a Veronica Martinez (760)744-1050, extension 3111.