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P.I.T.C.H.(Participate in Transforming City Heights) Home Loan Program
What
A partnership between Price Charities, lending partners, and commercial banks to provide first-time home buyers with a layered, competitive loan package for financing homes within specified boundaries in City Heights.
Goals
- To increase resident involvement in non-profit organizations in City Heights so as to help build civic pride and awareness.
- To increase home ownership in City Heights and foster a sense of community.
- To help City Heights residents by providing an innovative loan while serving as a homebuyers’ resource center.
Who Qualifies
• City Heights residents making below 100% of the area median income (or a maximum of $79,000 for a family of four).
• Employees of nonprofit/public agencies based in City Heights.
• First time homebuyers who have not held title to a home in the past three years.
How it works
• The lenders and commercial bank partners provide a competitive interest rate first mortgage on the home. Borrowers must meet minimum
qualifying ratios depending on the lender’s program.
• Price Charities finances a second mortgage of $50,000 via its PITCH Home Loan Program (Participate in Transforming City Heights). Price
Charities allows borrowers to perform qualified community service to pay off accumulated interest on the loan.
• Borrowers may also combine this package with the San Diego Redevelopment Agency Home in the Heights Program or other authorized
supplemental financing.
• PITCH borrowers are eligible to purchase any home or condominium within specified boundaries of City Heights Urban Village.
Restrictions
• All purchased homes must be owner-occupied.
• HUD-approved Home Buyer Education Certificate is required.
• Maximum purchase price is restricted to current local market values and HUD guidelines.
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Downloads and Links
 » Participate in Transforming City Heights Program Guidelines & Disclosure - (PDF,724KB)
Click here to download the Program Guidelines
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