First-Time Home Buyer Program

Supporting Home Ownership in Poway (SHOP) Program

The Supporting Home Ownership in Poway (SHOP) Program provides low- and moderate-income homebuyers with assistance to purchase a home in Poway through a Poway Housing Authority and City of Poway funded second mortgages. Homes purchased with the help of SHOP Program loans will remain affordable for a minimum of 45 years, which requires the home to be sold at a restricted resale price to qualified buyers.

SHOP loans are available to qualified applicants only when an existing single-family home financed with a SHOP loan becomes available for resale.

Currently, there are no SHOP Program homes available for resale.

Program Requirements

1. First-Time Buyer. You may not have owned a home secured by a Deed of Trust in the last 3 years. Those displaced by a divorce do not have to meet this requirement.

2. Down Payment. You are required to provide a percentage of the purchase price toward the down payment and fees. The percentage is 3% for low-income buyers and 5% for moderate-income buyers. This money can be borrowed or granted but cannot be a recorded loan.

3. Homebuyer Education. You are required to complete classes for first-time homebuyers. Classes include a U.S. Department of Housing and Urban Development First-time Homebuyer Course and a Poway Housing Authority SHOP/BEGIN Program course.

4. Credit and Income Eligibility. Your household's total gross income and credit history will be reviewed. The higher the credit rating, the more likely you would be eligible for the Program.

Gross Household Income Limits

The chart below represents an example of the income and household requirements to initially qualify. This chart will be updated when an affordable home becomes available for resale. 

Household Size*Minimum Income*Maximum Income*Maximum Assets*
1$38,851$66,000$55,500
2$44,416$76,100$63,450
3$49,946$85,650$71,350
4$55,511$95,150$79,300
5$59,956$102,750$85,650
6$64,401$110,350$92,000
* Subject to change. Income and asset limits do not constitute all necessary eligibility requirements. 


Questions about the SHOP program or the home buying process should be directed to Marie Sanders.