First-time Homebuyer Programs

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First-Time Homebuyer Programs

Program Income Limits 1st Time? Minimum Down Sale Price Limit Repayment Terms Program Benefit Location Restrictions Contact
County of Santa Cruz DPA 1 - $70,750
2 - $80,850
3 - $90,950
4 - $101,050
5 - $109,150
Yes 5% $385,000 Deffered for life of loan. Shared appreciation upon sale. May lend up to 25% of sale price as a silent 2nd. Property is converted to a deed-restricted unit upon closure. Property must be outside of the city limits of Santa Cruz, Capitola, Scotts Valley & Watsonville. Cannot be used with Measure J or O unit. Carlos Landaverry
831-454-2523
www.sccoplanning.com
City of Santa Cruz DPA 1 - $54,050
2 - $61,800
3 - $69,500
4 - $77,200
5 - $83,400
6 - 89,600
Yes 0% (may be additional lender requirements) $432,250 Deffered for life of loan. Shared appreciation upon sale. May lend a silent 2nd. Amount is on case-by-case basis. Property must be within city limits of Santa Cruz. May be used in conjunction with Measure O or market rate units. Norm Daly
831-420-5109
www.cityofsantacruz.com
City of Watsonville
1st time HB program
1 - $54,050
2 - $61,800
3 - $69,500
4 - $77,200
5 - $83,400
6 - 89,600
Yes 3% $375,250 Deffered for life of loan. 3% simple annual interest. May lend up to 25% of sale price as a silent 2nd. Property must be within city limits of Watsonville. Market rate units are acceptable. Lola Maldonado
831-768-3080
www.ci.watsonville.ca.us
City of Watsonville DPA 1 - $70,750
2 - $80,850
3 - $90,950
4 - $101,050
5 - $109,150
Yes 3% Affordable restricted units only. Deffered for life of loan. Shared appreciation upon sale. May lend up to $50,000, depending on property/buyer, in a silent 2nd. Property must be within city limits of Watsonville. Deed restricted units only. Lola Maldonado
831-768-3080
www.ci.watsonville.ca.us
City of Scotts Valley DPA 1 - $70,750
2 - $80,850
3 - $90,950
4 - $101,050
5 - $109,150
Yes 5% Affordable restricted units only. Deffered for life of loan. Shared appreciation upon sale. May lend up to $60,000 in a silent 2nd. Property must be within city limits of Scotts Valley. Deed restricted units only. Housing Authority of Santa Cruz
Beth Ahlgren
831-454-9455
www.haco.santacruz.org
CalStrs 80/17 Program NONE No 3% $670,103 Deffered for 5 years. Repayment begins in year 6, amortized over remaining 25 years at same rate as 1st. Lend 17% of the sale price in a silent 2nd at same rate as 1st.
Must be a member of CalStrs (teachers and administrative staff).
Property must in the state of California. May be used in conjunction with Measure J unit. www.calstrs.com
MCC program 40% of all must be:
1 - $54,050
2 - $61,800
3 - $69,500
4 - $77,200
5 - $83,400
6 - 89,600
60% of remaining:
1-2 - $83,800
3+ - $96,370
Yes N/A $573,881 Potential replayment if owner sells within 9 years or less. Provides a mortgage credit certificate of up to 20% of interest paid per year allowing buyer to reduce federal taxes paid by filing a revised W4 and qualifiying with a higher income. Property must be within the county of Santa Cruz. Housing Authority of Santa Cruz
Beth Ahlgren
831-454-9455
www.haco.santacruz.org
Housing Foundation Grant 1 - $54,050
2 - $61,800
3 - $69,500
4 - $77,200
5 - $83,400
6 - 89,600
Yes N/A NONE NONE Grants $3,000 to purchase of SFR, condo, PUD or $1,000 to purchase of mobile or manufactured home to be used toward closing costs. Property must be within the county of Santa Cruz. Santa Cruz Association of REALTORS® Housing Foundation
831-464-2000
www.scaorhf.org
Measure J Program 1 - $70,750
2 - $80,850
3 - $90,950
4 - $101,050
5 - $109,150
Yes N/A Affordable restricted units only. N/A Provides a lower purchase price to make home ownership more affordable.

Certain unit size limits based on size of household.
Property must be a designated Measure J property through the county of Santa Cruz. Carlos Landaverry
831-454-2523
www.sccoplanning.com
Measure O Program
Family Size Res. #16,452 Res. #22,400 Res. #22,856 Res. #27,629
1 $64,637 $70,400 $58,784 $70,400
2 $73,894 $80,450 $67,176 $80,450
3 $83,097 $90,500 $75,568 $90,500
4 $92,354 $100,550 $83,959
5 $99,738 $108,600 $90,681
6 $107,122 $116,650 $97,403
No N/A Affordable restricted units only. N/A Provides a lower purchase price to make home ownership more affordable.

No household unit size requirements
Property must be a designated Measure O property through the county of Santa Cruz. Norm Daly
831-420-5109
www.cityofsantacruz.com

First-time Buyers:
First-time buyers are defined as individuals who have not lived in a property they own in the past three years.

Deed Restricted Units:
A deed restricted unit falls under the affordable income and housing restrictions. It is a below-market-rate unit and the resale price is determined by the jurisdiction which controls the particular unit.