ACHL Blog

Written by Carl Kelley, Mortgage Advisor

There are many DAP programs throughout San Diego County specifically designed for First Time Home Buyers (FTHB). A FTHB is defined as someone that has not owned a PRINCIPLE Residence in the last three years. The FTHB programs are in place to help those people get into a home that otherwise would not be able to buy a home.

Escondido has one of the best DAP programs available. They have the Homebuyer Entry Level Program (HELP) and the Home Ownership Made Easy (HOME) Program. The HELP program is for FTHB’s that earn 80% or less of the San Diego County area median income and the HOME is for FTHB’s that earn between 81% and 120% of the San Diego County area median income. Those income levels are adjusted according to family size.

As of January 1, 2012 the HOME program has been suspended due to the State budget crisis. It is not known when or if the program will be available again. The HELP program is very much alive and well (this program is funded by Federal funds).

The HELP program allows a FTHB to purchase a home in the City limits of Escondido with very little or no money out of pocket. The HELP program will cover up to $25,000 or 5% of the purchase price, whichever is less, to cover the down payment and closing costs.

Please give us a call to find out if you or someone you know can qualify for the City Of Escondido HELP Program.