For San Luis Obispo County, the home’s price cannot exceed $634,615 for both new and existing homes.*
Other qualifications include:
- Build: Single-family, one-unit residence. Condominium and PUD eligible.
- Size: 5 acre maximum
- Inhabitance: Owner-occupied. Must occupy property as primary residence within 60 days of purchase close.
- Quality: Home must be ready to occupy.
- Homes with additional units (guest houses, granny units, etc)
- Manufactured homes
* Targeted Areas
The CHFA grants exemptions from income and property restrictions in low-income “targeted areas” to promote economic development. The sole “targeted area” in San Luis Obispo County is the 109.01 census tract, which is roughly to the east of Highway 1/Santa Rosa and North of Highway 101. Boulevard. Here, the eligible sales price rises to $775,641.