Housing Resales and Rentals

The City application rules are listed below to assist you in self-determining if your household may qualify for the affordable unit. 

Please note that additional rules do apply (see Eligibility Requirements) and all City rules are subject to change at any time without prior notice to maintain the integrity of the Affordable Housing Program.

1. Must currently live or work within the South Coast area of Santa Barbara County (from Gaviota to the Ventura County line)
2. Property is for owner occupancy only
3. Household costs (mortgage, property taxes, HOA, insurance) cannot be more than 40% of gross household income
4. Total consumer debt and household debt cannot exceed 50% of gross household income
5. Minimum credit score is 620
6. Minimum down payment is 5% or $15,565
7. Maximum down payment 40% or $124,520
8. All household members 18+ must be on loan and documents - exceptions for student children
9. No form of ownership or ownership interest in residential real estate at the time of application or during ownership of the affordable unit
10. If buyer has owned real estate in the last 2 years, then net proceeds cannot exceed $165,650
11. Buyer/s must be able to qualify for a loan with an Institutional Lender
12. Maximum household size for this unit is 3 persons
13. Household Gross Annual Income cannot exceed income listed in below
    • One person Household – maximum household income $99,624
    • Two person Household – maximum household income $113,856
    • Three  person Household – maximum household income $128,088 

If interested, complete the application and submit with your prequal letter to HHS@SantaBarbaraCA.gov

Note: If you are a homeowner selling your affordable City unit, please email HHS@SantaBarbaraCA.gov letting us know your intent to sell and your timeframe.