Question 1

What is a community mortgage in Santee?

Accepted Answer

It's a program designed for buyers in underserved markets with flexible credit and income rules. Santee buyers may qualify based on area median income thresholds.

Question 2

Do I need to be a first-time buyer?

Accepted Answer

Not always. Many community programs welcome repeat buyers who meet income limits. Ask your broker which programs are open to previous homeowners.

Question 3

How does this differ from an FHA loan?

Accepted Answer

FHA requires mortgage insurance for the loan's life. Some community programs skip MI or reduce it, which lowers your monthly payment.

Question 4

Can I combine this with down payment assistance in San Diego County?

Accepted Answer

Yes. Stacking county DPA with a community mortgage is common. It can bring your out-of-pocket costs down significantly.

Question 5

What credit score do I need in Santee?

Accepted Answer

Thresholds vary by program. Some go below 620. A broker can match your actual score to the right program across multiple lenders.

Question 6

Are there income limits for Santee borrowers?

Accepted Answer

Most community programs cap income at a percentage of San Diego County's area median income. Your broker can check current limits before you apply.

Community Mortgage Programs in Santee, CA