First-Time Home Buyer Program

Supporting Home Ownership in Poway (SHOP) Program
The Supporting Home Ownership in Poway (SHOP) Program provides low- and moderate-income home buyers with assistance to purchase a home in Poway through a Poway Housing Authority funded second mortgage. Homes purchased with the help of a SHOP loan will remain affordable for a minimum of 45 years, which requires the home be sold at a restricted price to income-qualified buyers. These homes are sold through the existing homeowner, not the Poway Housing Authority.

SHOP loans are available to qualified applicants only when an existing single-family home or condo financed with a SHOP loan becomes available for resale.  There are currently no homes available for resale.
 
  Program Requirements
  • First-Time Buyer: You may not have owned a home secured by a Deed of Trust in the last 3 years. Those displaced by a divorce do not have to meet this requirement
  • Cash: You are required to provide 3-5% of the purchase price toward the down payment and closing costs. This money can be borrowed or granted but cannot be a recorded loan
  • Income and Debts: Income and debt will determine the home price for which you will be eligible
  • Credit: Your credit history will be reviewed. The higher the credit rating, the more likely you would be eligible for the program
  • Home buyer Education: You are required to complete classes for first-time home buyers
To be placed on an interest list for notification about future affordable for-sale opportunities, please email your contact information (name, address, phone, and email address) to Dianne Carrion. If you do not have access to email, you may call 858-668-4551 and provide the required information.

For local and State resources, see the Housing Program Resources.