The program is in Poway. There are about 12 homes available (23 sold). The 12 remaining are all attached homes about 1400 sq ft that are selling about $350K. But you will be able to get $60K no interest loan from the gov’t. In addition you get $4K rebate for the solar panels installed and $8K bailout money. So this might be a good deal for someone.
I attended the Poway Affordable Home meeting with my sister and the realtor (in charge of the program) is very suprised that 12 homes are still available. Many people dropped out of the process for many reasons. Some didn’t qualify. Some didn’t like the homes or location.
My sister also dropped out. The homes are next to a trailer park so my sister doesn’t like it. Another reason is that she is getting marry next year and her fiancee has high income. According to the program, if my sister knows that her income will be high next year and still try to buy a home through this program with her current income it could be FRAUD.
