Down payment assistance in the form of zero percent, non-amortizing deferred payment loans are available from the County. Assistance up to $20,000 is available for households with incomes at or under 65% of AMI; up to $15,000 is available for households with AMI of 65%-80%; and up to $10,000 is available for households with 80%-100% of AMI.
Applicants are required to submit an application which asks questions on household income, the property being purchased, the loan that is proposed for financing, current housing expense and more. The application is attached. Applicants must be a first-time homebuyer, must have received homebuyer education, must have received mortgage loan approval pending receipt of the County assistance and must have prepared a realistic household budget. After County staff reviews the completed application including all required submittals, a package is submitted to a Loan Review Committee which makes the final decision on each request for assistance.
Upon approval of a request, AHP staff prepares the note and mortgage which secures the loan and which must be executed by the recipient at closing. This loan is subordinated to the first mortgage loan that the recipient receives. For more information on the program and the application process, please contact AHP staff.
Affordable Housing Program Staff
Affordable Housing Administrator Denise Benavidez (505) 986-6264 [bot protected email address]