New Home Financing Program For Local Government Employees
Sonora, CA– A new program is available to Tuolumne County. The Tuolumne County Board of Supervisors and County Administrator have introduced a new employee down payment and closing cost assistance program through country membership with the Rural County Representatives of California and Golden State Finance Authority. The program is available to both regular and relief County employees.
The new program will give potential homeowners the option of applying for down payment assistance of up to 3.5% of the mortgage. The assistance comes in the form of a zero percent rate that is deferred as a second mortgage where repayment would occur when the loan is refinanced, the home is sold, or at the end of a loan term.
Employees interested in the program are encouraged to watch two 45-minute virtual interactive presentations with a Q&A afterward. Information about that presentation can be found here. Additionally, Golden State Finance Authority can be contacted at 1-855-740-8422.