Torrey Pines Bank is dedicated to helping San Diegans achieve their financial dreams. Owning a home is a dream shared by many in our community and across our country. With our Almost Home Program, we offer financial help to customers with low or moderate income.
Imagine waking up in a home close to your place of employment, and in a neighborhood you enjoy. Our Almost Home Program is designed to help customers afford a condominium, townhouse or single family home in a location that’s closer to work; saving time and money spent on commuting. And imagine enjoying the many benefits of home ownership, including:
- Tax savings—deducting mortgage interest and real estate property taxes when filing federal income taxes*
- Investment—build equity over time as you repay your loan and your property appreciates
- Security—you and your family can live in a home that is truly your own
Torrey Pines Bank wants to help customers from all walks of life achieve their dreams and financial goals. In partnership with Community Housing Works, Inc., we aim to help you achieve home ownership. To learn more about the Almost Home Program and take your first steps toward home ownership, call Community Housing Works at 619.282.6647.
*Consult your tax advisor regarding the deductibility of interest.
PROGRAM GUIDELINES
Exploring Torrey Pines Bank’s Almost Home Program is a smart way to move toward home ownership. Benefits of the Torrey Pines Bank Almost Home Program include:
- Provides up to $15,000 in financial support for a participating household. For every $1.00 you contribute toward the home purchase, we’ll contribute $3.00 up to $15,000
- Funds are used toward home downpayment and/or reasonable and customary closing costs
- Home will be the owner’s primary residence and will be in San Diego County
ELIGIBILITY
Eligible homebuyers must also:
- Be enrolled in the Federal Home Loan Bank of San Francisco WISH program
- Complete a homebuyer counseling program
- Meet income guidelines—80% or less of the HUD MSA median income for San Diego
- Close on a home purchase within one year of enrollment in the WISH program
- Pay for at least 1% of the purchase price of the home from their own resources—including sweat equity
Plus: As added benefits through our Almost Home Program, Torrey Pines Bank will:
- Waive our standard application fee
- Waive our standard origination fee
- Waive property tax escrow requirements
- Provide you with a $100.00 gift cheque to purchase necessities for your new home
- Provide you with a no monthly service fee checking account when your monthly mortgage payment is automatically deducted from your Torrey Pines Bank account
ABOUT COMMUNITY HOUSING WORKS
Community Housing Works is a San Diego non-profit organization that helps people and neighborhoods move up in the world by providing a full range of housing options combined with training and support.
- Own beautiful, affordable housing
- Provide unique first-time homebuyer loans and counseling
- Provide support that strengthens communities and helps families build a wealthier future
