City of Arcata’s CalHome Mobilehomes Ownership Program is Open for Applications
This is a press release from the City of Arcata:
The City of Arcata is excited to announce that its CalHome Mobilehomes Ownership Program, helping Arcata residents to obtain loans for mobilehome housing, is open for applications.
The Mobilehome Ownership Program will provide forgivable loans to qualified first-time homebuyers for the purchase of a mobilehome within a licensed mobilehome park in the City of Arcata. Program assistance is provided as a forgivable 20-year deferred payment loan at 1.5% simple interest. To qualify for a CalHome program loan, applicants must meet the following requirements:
- Household income must be at or below 80% of the County’s area median income.
- Home must be located within a licensed mobilehome park within the Arcata city limits.
- Applicants must qualify for primary financing with another lender.
To apply or learn more about the program, contact Nick Brichta at [email protected] or (707) 825-2168.
Join the discussion! For rules visit: https://kymkemp.com/commenting-rules
Comments system how-to: https://wpdiscuz.com/community/postid/10599/
“Forgivable loans”? Must be “Financially unqualified”? A great way to get rid of your 60 year old Mobile, looks like…
Who thought this one up, the City Council?
And that doesn’t even include the lot rent or park fees. Banks don’t loan on trailers,been my experience..
Sounds legit to me. Shame people won’t read the guidelines. The program is very transparent. Second mortgages require first mortgage approval. That is what they mean by qualifying with another lender. Max funding amount up to 40% of the sales price not to exceed $80K. As long as you plan on using the mobile home as your primary residence for the next 20 years that $80K is fully forgiven. Mobile home, single family, who cares. If you can meet the program requirements, go for it. Your tax dollars at work. Use it.
Lots of property out here and spaces for the elderly which I mad respect. Though I can’t live there at this spot. My mom may be able to, and eventually she will probably live very close if not with me.
I’m not sure what to do about this with the market being as it is.
She is still young, though eventually, you know, she’ll need to be closer or I will go be closer to her. There aren’t really opportunities for those that are planning on caring out here. Nothing reasonable cost wise, at least.
The only affordable homes are those that are for alter-abled or in over-a-certain-age communities. I would love to start building something up, even a run down spot. I mean, my mom would definitely be there sometimes, much more when she starts slowing down which hopefully isn’t anytime soon.
It’s just bothersome that there is nothing to invest in out here with a basic wage unless you already have massive funds.
Edit: I have to afford the future. I am so not sure if I can. It’s a bit scary and I wish that city planners actually gave a hoot about not only those who are older, though the children and even the children’s children’s children’s children that inherited this empire of dirt and wonder.