Assistance plans are available in National City and Chula Vista. The San Diego Housing Commission, San Diego County and San Marcos have similar programs for other parts of the county but all three are out of funds until probably this summer.
National City recently resumed its program that gives borrowers up to $70,000 toward a down payment.
To qualify, borrowers must be first-time home buyers, qualify for a first mortgage, and buy in National City. They also must have an annual household income below 80 percent of the area median income, which is $51,850 for a family of two, $58,350 for three and $64,800 for four.
The loan does not need to be paid back for 30 years. However, it does need to be paid if the home is sold or the owner decides to rent it out.
It has a 3 percent simple interest rate that does not compound. For a $70,000 loan, that would be $2,100 added to the principal balance each year.
National City gets money for the program from the Home Investment Partnerships Program, administered by the U.S Department of Housing and Urban Development.
read more at: http://www.sandiegouniontribune.com/news/2016/may/04/down-payment-assistance-homes/