Who qualifies?

The buyer’s household income may not be more than 180% of the Placer County median income; this equates to roughly $223,200 for a family of four. For other eligibility requirements, please see the summary of program guidelines here. 

Loans may be up to $75,000. To reduce the day-to-day costs of homeownership, all principal and interest payments on the down payment assistance loans are deferred until the time a home is sold or other accelerating events occur. A borrower may choose between paying deferred interest at either 3 percent simple interest or based on a share of the home’s appreciation at the time of sale.

The Martis Fund was established in 2006 to promote opportunities for workforce housing in the Martis Valley region and programs to conserve open space and manage and restore habitat and forest lands.  The Martis Fund is a collaborative project of the DMB/Highlands Group, the developers of Martis Camp, Mountain Area Preservation (MAP), and Sierra Watch.

Sierra Business Council is currently working with local mortgage brokers and realtors to relaunch the program. Loans will be made on a first-come-first-served basis.

Here are links to other programs in our region: Placer County Housing Programs; Town of Truckee Housing Programs.