San Diego Home-buying Programs

Written by Helen Glenn Court
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A number of San Diego home-buying programs are available to would-be purchasers. If you've been bitten by the bug to own property in southern California's real estate hot spot but don't think you can afford the high average prices, there's hope. After all, summoning a healthy down payment for a $690,000 single-family home or a $392,000 condominium or town house is a tall order. These were the average prices in 2003, and prices have been going up in the past five or 10 years, not down.

San Diego Home-Buying Programs: An Introduction

The city of San Diego's housing commission offers several San Diego home-buying programs. All of them are geared to assist people who otherwise might not be able to afford real estate in this hot spot of southern California. Established in 1979, the commission's primary achievement is to help house more than 75,000 low-income families each year.

It also collaborates with businesses and investors and nonprofits on a number of other efforts. Its partnerships with mortgage lenders are especially valuable. First-time home owners can apply for deferred second trust deed loans, mortgage credit certificates, and down payment and closing cost assistance.

Other San Diego home-buying programs are available to purchasers who do not mean the income requirements of the city's housing commission, of course. Local real estate agents can help you find out about these opportunities. You will also want to research HUD options. HUD does provide a useful list of approved home-buying counseling agencies. California's Housing and Finance Authority (CalHFA) also assists first-time home buyers in the state.


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