Question 1

What income level qualifies for community mortgages in Ojai?

Accepted Answer

Most programs cap income at 80% of Ventura County median, roughly $75,000-$85,000 for a household of three as of February 2026. Specific limits vary by program and family size.

Question 2

Do community mortgages require private mortgage insurance?

Accepted Answer

Many community programs waive or reduce PMI even with small down payments. This saves $100-$200 monthly compared to conventional loans at similar loan-to-value ratios.

Question 3

Can I use a community mortgage to buy a condo in Ojai?

Accepted Answer

Yes, condos and manufactured homes often qualify. Given Ojai's high single-family prices, condos may be the only properties within program loan limits.

Question 4

How long does homebuyer education take for community loan programs?

Accepted Answer

Most courses require 6-8 hours and are available online or in person. You'll receive a certificate to submit with your loan application upon completion.

Question 5

Are community mortgage funds always available in Ventura County?

Accepted Answer

No, funding is allocated in batches throughout the year. Programs can pause when funds are exhausted, so timing your application matters as much as qualification.

Community Mortgage Programs in Ojai: Flexible Financing for Underserved Buyers