City Heights

Down Payment Help

Maximum gross income:

Family Size:

1-$55,300	5-$85,300
2-$63,200	6-$91,650
3-$71,100	7-$97,950
4-$79,000	8-$104,300


$30,000 silent second loan
$50,000 no payment for first 5 years and may be repaid by volunteer work
Additional $7,500 may be available for closing costs
This loan may be used in conjunction with a 3% of purchase price silent 4th mortgage
The MCC program is also available

There is $500 minimum contribution of funds required.
You must be a resident of City Heights or work as a city, county, federal or state employee within City Heights

Example: Family of 4 with an annual income of $72,000 purchase a home for $350,000

Purchase Price:	$350,000	Effective monthly payment
		P&I	$1,556.03
HITH	$30,000	Hazard ins.	$55.00
PITCH	$50,000	Taxes	$364.58
		Mtg Ins	111.81
First Mortgage	$270,000	MCC	-185.63
			1901.79
Closing Costs	$6,863.00
Prepaids	$2,437.67
Silent 4th	-$8,800.00
Funds to close	$500.67

Additional Down Payment Assistance is available for borrower's with income less than 80% of the San Diego Area Median Income

Loan Information is based on a 30 year fixed rate of 5.5% apr. 6.081%
Interest rates are subject to change.

Want to get pre-approved? Apply Online