Home Ownership Program
Homeownership Programs for First-Time Homebuyers
The City of Foster City participates in programs designed to assist first-time homebuyers with the purchase of a new home. These programs are:
1. Housing Endowment And Regional Trust (HEART)
The Housing Endowment and Regional Trust (HEART) in partnership with Meriwest Mortgage, has created a customized loan package to help qualified, moderate-income families, buy a home in San Mateo County. The program combines a first mortgage loan from Meriwest Mortgage Company, and a second, below market rate down payment assistance loan from HEART for up to $78,225.
For more information and to apply online, please visit http://www.heartofsmc.org/open/
2. Mortgage Credit Certificate
The Mortgage Credit Certificate program is a means of providing financial assistance to first-time homebuyers by allowing those homebuyers to take fifteen percent of annual mortgage interest payments as a tax credit against their federal personal income tax in addition to the regular itemized deductions for the remaining 85% of the home mortgage interest payments. This program is available on a limited basis. For more information, please contact the San Mateo County Office of Housing at 650-802-5032.
