The Shasta County Down Payment Assistance Program (D.A.P.)has increased the maximum allowable income limits for home buyers.
The Shasta County DAP is very similar to the City of Redding DAP program with the exception of the income requirements and the maximum purchase price. Both of these programs are designed to assist low income first time home buyers with buying a home. 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”
Shasta County Housing and Community Action Down Payment Program provides 0% 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 and inside the City of Anderson.
To qualify for the Shasta County Down Payment Assistance Program applicants must meet the following income guidelines:
| Household Size | Annual Income | Monthly Income |
|---|---|---|
| 1 | $31,550 | $2,629 |
| 2 | $36,050 | $3,004 |
| 3 | $40,550 | $3,379 |
| 4 | $45,050 | $3,754 |
| 5 | $48,700 | $4,058 |
| 6 | $52,300 | $4,358 |
| 7 | $55,900 | $4,658 |
| 8 | $59,500 | $4,958 |
How much can you borrow?
The loan amount can be up to 37% of the purchase price. At the maximum purchase price of $165,000.00, the DAP loan could be as much as $60,000.00. The borrower must contribute at least 3% of the purchase price to the sale transaction. This may be a gift.
How do you Apply?
- Visit the Department of Housing and Community Action Programs to place your name on the waiting list for an application.
- Within 2 to 3 weeks, you will receive a letter asking you to pickup your application package.
- Return the completed application along with the requested documentation to our office.
- Contact a mortgage lender to obtain a pre-qualification letter.
More information can be found at the Shasta County Housing & Community Actions Page
