Becoming a homeowner in the City of San Diego’s high-cost real estate market is closer to reality for middle-income families. Help is available from the San Diego Housing Commission’s (SDHC) Middle-Income First-Time Homebuyer program, in collaboration with the Wells Fargo Foundation.
Help Available
$50,000 total
- $40,000 deferred, down-payment assistance loan (4% simple interest)
- $10,000 closing costs assistance grant
Minimum Eligibility Requirements*
- Households that have not owned a home in the last three years
- Maximum Sales Price: $1,250,000
- Minimum Credit Score: 640
- Consistent work history of two years or more
- Sufficient income to support a mortgage payment
- Sufficient assets to provide a down payment of 3 percent of the purchase price
- Household income of 80% to 150% of San Diego’s Area Median Income
| Household Size (# of Household Members) |
Minimum Income (80% of AMI) |
Maximum Income (150% of AMI) |
| 1 | $92,700 | $137,350 |
| 2 | $105,950 | $156,950 |
| 3 | $119,200 | $176,600 |
| 4 | $132,400 | $196,200 |
| 5 | $143,000 | $211,900 |
| 6 | $153,600 | $227,600 |
| 7 | $164,200 | $243,300 |
| 8 | $174,800 | $259,000 |
*Additional terms and conditions apply
How to Apply
- Visit www.sdhc.org/homebuyer
- Contact a loan officer from SDHC’s Participating Lender list. The loan officer will be the primary point of contact through loan closing and will submit the application on the borrower’s behalf to SDHC.
- Review San Diego’s Area Median Income (AMI) limits to confirm your household’s annual gross income (before taxes) does not exceed the limit for your family size. This includes the income of all adult household members.
- Review the program descriptions and guidelines.
- Attend a Pre-Purchase Counseling and Homebuyer Education Course with an SDHC-approved provider from the list available on SDHC’s website.
- Work with a real estate agent to find a property.
Additional Terms
The down-payment assistance loan is deferred with no monthly payments required during years 1 through 5. Beginning in year 6, the outstanding principal and interest will be converted to an amortized loan with fixed monthly payments for a period of 120 months. There is no prepayment penalty, and payments can be made at any time.
For additional questions, loan officers can contact fthb@sdhc.org.
Homeownership Advisor
An SDHC Homeownership Advisor is available to answer questions about first-time homebuyer programs, assess financial preparedness and, as needed, connect callers with counseling agencies that provide the types of services they need to become ready to buy a home.
Prospective homebuyers can call (619) 578-7788 or email homeownership@sdhc.org.
Funding Community Impact
A Wells Fargo Foundation grant awarded to SDHC funds this program, including support for the Homeownership Advisor’s activities.
