What is the Down Payment Assistance Program?
Shasta County Housing and Community Action Programs provides 3% interest
loans to qualified low-income, first-time home buyers to help with
their down payment and closing costs. The program is available in the
unincorporated area of Shasta County. 1.5% available to qualified disaster victims.
How much can you borrow?
The loan amount can be up to 40% of the purchase price. At the maximum
purchase price of $246,000, the DAP loan could be as much as
$80,000. The borrower must contribute at least 3% of the purchase
price to the sale transaction. This may be a gift.
Who is eligible?
The program is available to first-time home buyers, who qualify under
the following income guidelines. Gross household income must be below
these limits.
A first-time home buyer is someone who has not owned a home in the last 3 years, or who qualifies as a "displaced home-maker".
| Household Size |
Annual Income |
Monthly Income |
| 1 |
$36,300 |
$3,025 |
| 2 |
$41,500 |
$3,458 |
| 3 |
$46,700 |
$3,892 |
| 4 |
$51,850 |
$4,321 |
| 5 |
$56,000 |
$4,667 |
| 6 |
$60,150 |
$5,012 |
| 7 |
$64,300 |
$5,358 |
| 8 |
$68,450 |
$5,704 |
How do you apply?
- Contact a mortgage lender to obtain a pre-qualification letter.
- Visit the Department of Housing and Community Action Programs to place your name on the waiting list and pick up an application.
- Return the completed application along with the requested documentation to our office.
For more information please contact:
Wendy Taylor
Housing & Community Program Specialist III
1450 Court Street, Suite 108
Redding, CA 96001
Phone: 530-245-6433
Fax: 530-225-5178
E-mail: wtaylor@co.shasta.ca.us
|
Download DAP Brochure |