Lending Options and Affordable Housing Programs in Santa Cruz County
Santa Cruz Housing Authority- They can assist with qualifying for the affordable rental housing, but they don't do the initial processing for affordable housing to buy.
City of Capitola Affordable Housing- The city has programs that are in part administered through the Santa Cruz Housing Authority. Check with Capitola for specifics.
City of Santa Cruz Measure O City of Santa Cruz Affordable Housing Program
Santa Cruz County Measue J affordable housing program info
Scott Valley Affordable Housing Program
These mobile home lenders will primarly finance new and coaches less than 20 years in age, though will do older depending on the park and coach type.
Generally speaking on mobile homes older than 20 years you'll need 20-50% down payments. Factors such as the park, age of the mobile home and if it's a single or double wide affect the amount needed for a down payment.
First Pacific Financial-mobile home lending Christy Snow 1-800-460-0019 loans@firstpacificloans.com
She's reputed to have some newer financing with as low as 5% down payments for people with good credit and income.
Manufactured Home Mortgage 1-916-638-8265 Info@mhmloan.com
Bill Woody bill@woodyhomeloans.com
Murphy Bank (805) 250-2300
Northern California Lending Glendora@nclending.com
C. 530.575.9937 O 530.271.3771
Community West Bank Will Cunningham (805) 692-4359 WCunningham@CommunityWestBank.com
Manufactured Home Mortgage--Dave Shanklin
Mobile (916) 868-7276
Email mobilehomelender@gmail.com He's reupted to have some newer financing with as low as 5% down payments for people with good credit and income.
Art Bando (408) 296-6469 or mobilehomefinance@comcast.net.
https://usfinancialnet.com/programs T: (800) 655-9044 or (949) 661-9044
https://www.sccoplanning.com/PlanningHome/Housing/GrantFundedPrograms/HOME-HomeInvestmentPartnershipProgram.aspx
Affordable housing programs generally require 6 months of residency or work in their jurisdictions and have income and asset restrictions. These programs are for people of median incomes in the areas and aren't for investors. They are designed to have area residents be able to own a home and get off from being renters.They aren't good investments from the standpoint their value increases, as they are usually based on an areas consumer price index, not free market rates of appreciation. There are varying qualifying plateaus based on income and the number of family members. There is ultra low, low, and moderate income levels and each complex or development, and they may have differing qualifications.So one complex may have an ultra low guideline and another a moderate income qualifiying table.
