• New: Neighborhood Stabilization Homeownership Program available in targeted areas: NSHP’s primary objective is to help a first-time homebuyer from a low-moderate income (up to 120% Area Median Income) with good credit and the ability to make mortgage payments buy a foreclosed property within the City of San Diego’s targeted areas in City Council Districts 3, 4, 7 and 8 from San Ysidro to Miramar. Click here for more information.

• Mortgage Credit Certificate (MCC) Allocations: The only MCCs currently available are special “foreclosure MCCs” for purchasing bank-owned homes. An allocation of regular City-wide MCCs is expected to be available in August, 2009.

• The City of La Mesa DCCA program has been temporarily suspended. The program is being restructured and will commence upon approval from La Mesa's City Council.

•  Effective June 15th: The federal requirement to have a 15% discount from appraised value under the Neighborhood Stabilization Homeownership Program has been reduced to 1%.

How To Become a Participating Lender

In partnership with over 100 lending institutions, SDHC has helped more than 4,300 families achieve the American dream of owning a home. This assistance is provided through four distinct first-time homebuyer programs: The San Diego City-wide First-time Homebuyer Program, the Neighborhood Stabilization Homeownership Program (NSHP), For-Sale Affordable Homes, and the City of La Mesa Down Payment-Closing Cost Program.

To become a participating lender, you will need to submit a completed Lender Participation Agreement and become certified through SDHC trainings:

Lender Agreement: To become a participating lender, fill out and submit the Lender Participation Agreement. The original completed and signed Lender Participation Agreement must be submitted to SDHC along with the $400 annual fee, and a copy of the State of California Department of Corporations License Certificate, or Department of Real Estate License Certificate.  For questions contact, Diane Lias 619.578.7492.

Training and Certification: Effective July 1, 2009, SDHC will require all participating lenders submitting packages for the deferred loan, closing cost grant, and MCC programs to attend the SDHC lender certification trainings. MCC lenders will also be required to take a separate MCC training through AHA Housing, Inc. For more information about the AHA Housing MCC training, contact Kathy Stone, 619.469.0270, or go to www.ahahousing.com.

Loan Submission Documents and Instructions

Only lenders that have attended the SDHC lender certification training can submit packages to SDHC on behalf of qualified buyers. Prior to completing the loan submission packet, it is important to review the loan submission instructions. In order to properly save the loan submission packet, right click on the link then click “Save,” and save it to your desktop. (Do not open the workbook then click “File Save-As,” you will be asked for a password and will be unable to save the document.)

All packages must be submitted as an original hard copy. All documents must be signed and submitted in the requested order. Emailed or facsimile submissions packages are not accepted. Prior to submitting loan packages for underwriting, lenders should check the SDHC website for updates on available funds, program changes and loan submission document updates.

• Loan Submission Instructions

• Loan Submission Packet for all programs except the Neighborhood Stabilization Homeownership Program (NSHP)

• NSHP Loan Submission Packet

Related Documents

• All Home Buyer Assistance Programs and Program Guidelines 
• Program Summary Chart (Includes Fees & Funding Availability)  
• Availability of Funds
• Approved Home Inspectors
• Home Buyer Education Class Providers
• MCC: Lender’s Operating Manual 
• MCC: Information Packet
• About Lead Paint
• Shared Appreciation Program Manual