La Mesa

Down Payment Help

Maximum gross income:

Family Size:

1-$44,250	5-$68,250
2-$50,550	6-$73,300
3-$56,900	7-$78,350
4-$63,200	8-$83,400


Up to $120,000 silent second loan
Additional $7,500 may be available for closing costs through a county program
This loan may be used in conjunction with a 3% of purchase price silent 3rd mortgage


There is minimum contribution of 3% of the purchase price from personal funds.
Condos/Townhomes are eligible.
Single Family Homes must be within the Revitalization area				Link to map

Example: Family of 4 with an annual income of $60,000 purchase a home for $350,000

Purchase Price:	$350,000	Monthly payment
		P&I	$1,264.99
Silent 2nd	$120,000	Hazard ins.	$55.00
3% of own funds	$10,500	Taxes	$364.58
		Mtg Ins	90.89
First Mortgage	$219,500		1775.46

Closing Costs	$6,463.00
Prepaids	$2,398.52
Silent 3rd	-$8,800.00
Funds to close	$10,561.52

Loan Information is based on a 30 year fixed rate of 5.5% apr. 6.107%
Interest rates are subject to change.

Want to get pre-approved? Apply Online

La Mesa First Time Home Buyer Program Details