Truckee’s home buyer assistance program has Friday deadline for applicants | SierraSun.com

Truckee’s home buyer assistance program has Friday deadline for applicants

Greyson Howard
Sierra Sun

TRUCKEE, Calif. and#8212; The deadline is looming for residents interested in getting help buying a home in Truckee.

The last day for applications for the townand#8217;s $1.56 million first-time home buyerand#8217;s assistance program is Friday, Feb. 5. The plan proposes to help with down payments for about 20 low-, moderate- and above moderate-income households looking for their first home.

and#8220;This is really an opportunity to get into a home with limited restrictions and not a lot of money down,and#8221; said Town Manager Tony Lashbrook.

The assistance will be in the form of 2 percent interest, 30-year deferred loans for low- and moderate-income applicants, and a 3 percent, 30-year deferred loan for above-moderate applicants, according to staff reports.

The three income levels eligible are low-, moderate- and above-moderate income, which are below 80 percent of Nevada County median income, between 80 and 120 percent, and 120 to 160 percent, respectively.

As an example, a family of four making $55,300 a year meets the 80 percent mark, a family of four making $82,900 meets the 80 to 120 percent bracket and a family of four at $110,560 hits the 121 to 160 percent level, according to staff reports.

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To get an application package, either stop by town hall at 10183 Truckee Airport Road or go to http://www.townoftruckee.com. Then packages need to be mailed to JoAnn Anders, P.O. Box 1583 Ceder Ridge, CA 95924 to be received no later than 5 p.m., Feb. 5.