San Diego First Time Home Buyers
Welcome to your #1 source for FREE San Diego First Time Home Buyers information. Team Q strives to provide our clients with the most up-to-date information regarding California Home Buyer Assistance Programs, Home Buyer Tax Credit Initiatives & Grant Options.
Below you will find a resource list full of MUST HAVE information for ALL San Diego First Time Home Buyers.  For the latest information related to San Diego Homes for Sale, California Buyer Programs, San Diego First Time Home Buyer Programs & Revised Tax Credit options, please feel free to utilize our Free Client Services and/or Contact Team Q.
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Tax Credit Provides Outstanding Opportunity for San Diego Home Buyers
A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
$8,000 Home Buyer Tax Credit at a Glance
The information within this section pertains to the American Recovery and Reinvestment Act of 2009.
•    The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
•    The tax credit does not have to be repaid.
•    The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
•    The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
•    Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
•    Frequently Asked Questions About the Home Buyer Tax Credit
•    Learn how you can take advantage of the tax credit to buy the home of your dreams
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California Down Payment Assistance and Grant Programs
The State of California and The San Diego Housing Commission has Down Payment Assistance and Grant programs to help San Diego First Time Home Buyers.  You may be eligible for up to $15,000 towards the purchase of your home. Funds are available on a first come, first served basis. Certain income eligibility requirements must be met in order to qualify for San Diego Housing Assistance Programs.
•    Down payment/closing cost assistance grant - First-time homebuyers earning 100 percent or less of the San Diego Area Median Income (AMI) can apply for a grant equal to four percent of the purchase price (not to exceed $7,500), to be used toward the down payment and closing costs. The grant is recoverable if the buyer sells or rents the home within six years. (San Diego Housing Commission)
•    Mortgage Credit Certificate (MCC) program - First-time homebuyers purchasing houses or condominiums within San Diego city limits can receive a tax credit equal to either 15 or 20 percent of the mortgage interest they pay each year on their federal income taxes. (San Diego Housing Commission)
•    Calhome first-time homebuyer mortgage assistance program - Qualified first-time homebuyers earning 80 percent or less of the AMI, as adjusted for family size, can purchase homes in the City of San Diego with the help of a deferred second trust deed loan of $19,350. (San Diego Housing Commission)
•    Downtown First-Time Homebuyer Program - A program that assists first-time homebuyers earning 120 percent or less of the AMI to purchase a home in downtown San Diego. This program provides financing, in the form of a second trust deed loan, not to exceed $75,000. The loan is for 30 years at zero percent interest and has no monthly payments for the first five years. (Centre City Development Corporation, San Diego Housing Commission)
•    Shared equity program - First-time homebuyers earning 80 percent or less of AMI can purchase homes in the City of San Diego with the help of a "silent second" trust deed loan for 25 percent of the purchase price or $70,187, whichever is less. No monthly payments of principal or interest are required. Maximum purchase price or appraised value is $280,749. (San Diego Housing Commission)
•    First-Time Homebuyer Shared Equity Program in southeastern San Diego - First-time homebuyers in southeastern San Diego can apply for a shared equity loan. Applicants cannot earn more than 120 percent of the San Diego AMI (for example, $76,080 for a family of four). Interest-free loans are available up to $40,000. (Southeastern Economic Development Corporation)
•    Down Payment Grant Program - Assistance with partial down payment costs up to $5,000 is provided in the form of a cash grant to eligible first-time homebuyers who are in the process of purchasing newly-constructed homes in targeted areas within southeastern San Diego. The grant is available to homebuyers with household incomes up to 120 percent of the San Diego area median income. (Southeastern Economic Development Corporation)
•    Home in The Heights (PDF: 226K) - The City will fund silent second mortgages for first-time homebuyers of up to $15,000 per property within the City Heights Redevelopment Project Area to qualified borrowers displaced by school projects. The Home in the Heights loan can be combined with San Diego Housing Commission funds provided by the U.S. Housing and Urban Development Department that can provide an additional $40,000 or with Price Charities funds that can provide an additional $25,000. (Redevelopment Division)
•    Homebuyers Training Programs- Programs to teach first-time homebuyers how to purchase a home.
•    Learn how you can take advantage of the San Diego Down Payment Assistance & Grant Programs