(HOME First Time Home Buyer Loan Program Guidelines)…They were approved by the Supervisors Tuesday.
The County was awarded $700,000 from the State Department of Housing and Community Development, through its HOME Investment Partnership Program, to implement a First Time Home Buyer Loan Program. According to the HOME federal regulations, all recipients must update its current program guidelines when establishing a new funding cycle or new income limits. The Imperial County program has a $60,000 limit, and is considered a secondary home loan. It does not have to be paid back until after the primary loan is paid. Under the County program, the loans are only good for homes purchased in unincorporated areas. And the home must be the first one to be purchased by the applicant. For all the guidelines and regulations contact the County Community and Economic Development office.