Question 1

Who qualifies for a community mortgage in Capitola?

Accepted Answer

Borrowers in underserved communities with limited credit history or lower incomes. Income limits and residency requirements vary by program.

Question 2

Are community mortgages the same as FHA loans?

Accepted Answer

No. They share some flexibility but community programs are distinct products. Some are more lenient than FHA on credit and down payment.

Question 3

Do these programs work for first-time buyers?

Accepted Answer

Yes, most community mortgage programs prioritize first-time buyers. Some are exclusively for borrowers who haven't owned a home in the past three years.

Question 4

Can I combine a community mortgage with down payment help?

Accepted Answer

Often yes. Many community programs are designed to layer with county or state down payment assistance. Ask your broker to structure both together.

Question 5

Does Santa Cruz County have specific eligibility rules?

Accepted Answer

Some programs set income limits tied to county median income. A broker can confirm which programs apply to your Santa Cruz County address.

Community Mortgages in Capitola, CA