Twenty-five families in San Luis Obispo County could benefit from a $1 million state grant for first-time homebuyers, the county’s Department of Planning and Building announced.
The CalHome funds result from passage of Proposition 1C, the Housing and Emergency Shelter Trust Fund Act of 2006. An additional $50,000 is available through federal HOME funds.
The program provides down-payment assistance to low-income buyers. In 2007, San Luis Obispo County received $600,000 in CalHome funds and assisted 15 low-income homebuyers with down-payment and closing costs.
Low-income homebuyers must earn an annual gross income of less than $60,300 for a family of four. The county plans to begin taking applications for the program by September.
For more information, contact planner Suzan Ehdaie at 781-4974 or email@example.com.