Mono County approves down-payment assistance and deed-restriction homeownership programs
The Board of Supervisors voted Aug. 18 to adopt guidelines for a Down Payment Assistance Program (deferred second mortgage up to $150,000 at 1% interest) and a Community Housing Preservation Program (workforce deed restrictions and up to 20% subsidy), aiming to expand homeownership options for local workforce households.
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The Mono County Board of Supervisors voted on Aug. 18 to approve program guidelines for two homeownership initiatives intended to help local workers buy homes. Housing Management Analyst Patricia Robertson told the board the Down Payment Assistance Program offers up to $150,000 as a deferred-payment loan at 1% interest and the Community Housing Preservation Program supplies a workforce deed restriction and a subsidy that can reach 20% of the purchase price.
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