HOME PURCHASE ASSISTANCE
Programs to help you buy a home in Truckee-Tahoe
We help you pursue home purchase in the Truckee-Tahoe region. Review the steps below then reach out to start your journey!
The Home Buying Process
STEP ONE
Understand the Home Buying Process
STEP TWO
Learn about regional home purchase assistance
STEP THREE
Connect with a local lender
Home Purchase Assistance Programs
There are a number of programs offered by regional and state partners that you can consider as part of your home purchase process. Many programs have unique Area Median Income and employment requirements. Our local lending partners can help you to understand what you qualify for.
MARTIS FUND HOMEBUYER ASSISTANCE PROGRAM
Loan
TYPE
180% AMI
INCOME ELIGIBILITY
Up to $75,000
AMOUNT
BORROWER CRITERIA:
Borrowers cannot currently own a home or have been on title to real property or on title to a manufactured home unit within the last 12 months. At least 51% of household incomemust come from employment within the Tahoe Truckee Unified School District.
The Martis Fund Homebuyer Assistance Program (DPAP) can be layered with the Truckee Home
Access Program and Placer County’s Workforce Housing Preservation Program.
PROPERTY ELIGIBILITY
The eligible property must be deed restricted and within the Tahoe Truckee Unified School District (TTUSD) boundaries.
TRUCKEE HOME ACCESS PROGRAM
Grant
TYPE
245% AMI
INCOME ELIGIBILITY
Up to $150,000
AMOUNT
Must have at least one household member who works or is self-employed full time in the Tahoe Truckee Unified School District geographical boundary. Must be able to obtain primary mortgage financing Home must be occupant’s principal residence 10 out of 12 months per year. Buyers’ liquid assets must not exceed 30% of sales price of home.
PROPERTY ELIGIBILITY
Properties purchased with program funds must be within the Town limits of Truckee.
WORKFORCE HOUSING PRESERVATION PROGRAM
Grant
TYPE
None
INCOME ELIGIBILITY
Up to $150,000
AMOUNT
Must have at least one household member who is currently employed full time at an employment site within the Tahoe Truckee Unified School District geographical boundary This can be demonstrated through paystubs of 30 or more hours per week or through employer verification. Homebuyers must have a minimum of 4% of the sale price available as a down payment.
PROPERTY ELIGIBILITY
The house must be in Eastern Placer County. Property may be rented on a short-term basis for no more than 30 days each calendar year Property may be rented to a qualified occupant who meets local employment criteria.
Understanding Area Median Income
Area Median Income, also known as “A-M-I” is the household income for the median/‘middle’ household in a given region. The median income of an area is utilized to benchmark income levels and highlight the need for programs or services within a given community. The income benchmarks are calculated and adjusted annually based on family/household size.
Let’s get started! Connect with us today and we can help you on your journey.
