Santa Cruz County awarded grants for homeownership programs

The state has awarded Santa Cruz County two grants to help support low-income homeownership.

The two $1 million grants are being made available through the state’s Proposition 1-C funded CalHome Program.

The funds will be used for two purposes: mortgage assistance loans for first time homebuyers and loans for qualifying mobile home replacement.

Loans for up to $56,400 will be structured as thirty-year 3% simple interest loans, and payments can be deferred until the home is sold.

Qualifying households can earn no more than 80 percent of the area median income as defined by the Department of Housing and Community Development. A family of four must have a household income of no more than $80,650 to qualify, for instance. Household income for a single person can not exceed $56,500.

The county is currently seeking applicants for the CalHome program. Applicants are served on a first come, first served basis.

An application can be made by calling 454-2336 (English/Spanish) or by
going to the website.