Tuesday, June 28 , 2016, 9:37 pm | Fair 63º

  • Follow Noozhawk on LinkedIn
  • Follow Noozhawk on Pinterest
  • Follow Noozhawk on YouTube
 
 
 
 
Posted on August 18, 2014 | 1:07 p.m.

Carpinteria Workforce Homebuyer Program Offers $75,000 Deferred Loans

Source: Housing Trust Fund of Santa Barbara County

The City of Carpinteria, in collaboration with the Housing Trust Fund of Santa Barbara County, is offering 30-year deferred payment loans up to $75,000 to assist qualified first-time homebuyers in purchasing an entry-level home in Carpinteria.

The Workforce Homebuyer Down Payment Loan Program is designed to help bridge the homeownership affordability gap and expand homeownership opportunities for low to upper moderate-income households who purchase homes in Carpinteria.

The pilot program provides loans to eligible workforce borrowers up to 16.5 percent of the home acquisition price or a maximum loan of $75,000. Loan funds can be used for down payment and closing costs. The loans have no current interest or principal payments and are repaid, with shared appreciation, upon the sale or refinancing of the home, or at the end of the 30-year loan term.

Borrowers must not have owned a residence in the past three years, must be U.S. citizens or permanent resident aliens, live or work within Santa Barbara County and have a combined household income that does not exceed 200 percent of Area Median Income, adjusted for household size.

Funding for the program has been provided by the City of Carpinteria. The Housing Trust Fund, which operates successful homebuyer assistance programs in North County, is managing the program for the City of Carpinteria.

The program removes financial barriers to the dream of homeownership by lowering home acquisition and carrying costs so that qualified working households can purchase a home that strengthens the family, the neighborhood and community.

For more information about the City of Carpinteria Workforce Homebuyer Down Payment Loan Program please contact Jennifer McGovern, president/CEO of the Housing Trust Fund of Santa Barbara County, at 805.685.1949 or [email protected]. You may also contact the City of Carpinteria Community Development Department at 805.684.5405 x405 or x410.

Additional information about the program is available online by clicking here or clicking here.


 

Reader Comments

Noozhawk's intent is not to limit the discussion of our stories but to elevate it. Comments should be relevant and must be free of profanity and abusive language and attacks.

By posting on Noozhawk, you:

» Agree to be respectful. Noozhawk encourages intelligent and impassioned discussion and debate, but now has a zero-tolerance policy for those who cannot express their opinions in a civil manner.

» Agree not to use Noozhawk’s forums for personal attacks. This includes any sort of personal attack — including, but not limited to, the people in our stories, the journalists who create these stories, fellow readers who comment on our stories, or anyone else in our community.

» Agree not to post on Noozhawk any comments that can be construed as libelous, defamatory, obscene, profane, vulgar, harmful, threatening, tortious, harassing, abusive, hateful, sexist, racially or ethnically objectionable, or that are invasive of another’s privacy.

» Agree not to post in a manner than emulates, purports or pretends to be someone else. Under no circumstances are readers posting to Noozhawk to knowingly use the name or identity of another person, whether that is another reader on this site, a public figure, celebrity, elected official or fictitious character. This also means readers will not knowingly give out any personal information of other members of these forums.

» Agree not to solicit others. You agree you will not use Noozhawk’s forums to solicit and/or advertise for personal blogs and websites, without Noozhawk’s express written approval.

Noozhawk’s management and editors, in our sole discretion, retain the right to remove individual posts or to revoke the access privileges of anyone who we believe has violated any of these terms or any other term of this agreement; however, we are under no obligation to do so.

 

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.



Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >