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September 19, 2012

Opportunities for middle- to low-income and first-time home buyers in San Luis Obispo County

by Central Coast Lending

The San Luis Obispo County Planning Department puts out a quarterly newsletter that, among other things, profiles local building projects. The July issue mentions three developments for low- and middle income home buyers, as well as financial help for first-time home buyers. After the jump, we profile these properties and programs.


Moylan Terrace, San Luis Obispo 

This development will add 80 new townhouse-style homes between Humbert and Victoria Ave (off of Broad Street). The homes are either two or three bedrooms and sized between 809 and 1,675 square feet. The Irish Hills Plaza East and the Housing Authority of SLO have collaborated on the project.

The first 12 unites will be available in late 2012. For more information see the Moylan Terrace website.


El Camino Oaks, Atascadero

People’s Self Help Housing (PSHH) leads this project, which will build 24 energy-efficient homes, with 3 and 4 bedrooms, 2 bathrooms, and 2-car garage. Interested parties will work together to build all homes in the group. The minimum qualifying household income is $34,000. For a household of four, the maximum income is $60,300.

The USDA Rural Development program will provide loans, and need-based down payment assistance is available. To apply, download THIS application. For more information, call 781-3088.


Affordable Homes for Agricultural Workers, Oceano

People’s Self Help Housing is taking applications for 6 mutual self-help homes to be built on 15th Street in Oceano. Qualification is restricted to agricultural workers. The homes will be energy-efficient, 3 bedroom, 2 bath and townhouse-style. Call 781-3088 for more information.


First Time Home Buyers Closing Cost Assistance

The County of San Luis Obispo has a $1 million grant to help first-time home buyers get into their new home. The program will award up to $55,000 loans to assist first-time home buyers with down payment and closing costs. Qualified households must earn less than 80 percent of the area median income to qualify. Applications for the program began in September 2012.


For more, contact Suzan Ehdaie:

Phone: 805.781.4974

Email: [email protected]


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