CHULA VISTA, Calif. — The City of Chula Vista is relaunching a program to help low-income families purchase their first homes, the city announced in a press release Tuesday.
The First-Time Homebuyer Program, which began in 2004, will assist households using local, state and federal funds.
To be eligible for assistance, a family’s income must be at or below 80% of San Diego County’s area median income, which is currently $104,100 for a family of four, the city said.
If this is the case, the household can apply for a 3% interest, deferred-payment loan that would cover up to 22% of the purchase price, or a maximum loan of $120,000 to buy a single-family home, townhome or condo in Chula Vista.
The homes purchase price cannot exceed $570,000 for an attached home or $826,500 for detached homes, the press release explained.
Residents who want to apply for the program can find more information here.
Chula Vista’s First-Time Homebuyer Program was administered by San Diego Housing Commission.