City of La Mesa Deferred Second Trust Deed Loans

The San Diego Housing Commission (SDHC) administers a Deferred Second Trust Deed Loan program for the City of La Mesa. Through this program, loans of up to $120,000 are available to purchase a home in the City of La Mesa.

The loans are “deferred,” meaning you do not make payments or accrue interest for 30 years unless you sell or refinance the home. They are “second” loans because they are in addition to your first, or primary, mortgage loan. The entire loan plus interest (based on a simple interest rate of 7%) must be paid when the home is sold or rented (among other “trigger” events). More information on program guidelines coming soon.

To be eligible, home buyers must earn 80% or less of San Diego’s Area Median Income. Click here for income limit charts.

How to Apply

To add your name to the interest list, contact Vicki Monce at vickim@sdhc.org or 619.578.7491. As funding is limited, assistance is offered through a lottery, in which applicants will be randomly selected from an interest list.