County approves participation in homeowners

The San Diego County Board of Supervisors approved the County of San Diego's participation in the California Rural Home Mortgage Finance Authority's residential energy retrofit program.

The supervisors' 5-0 vote September 13 allows homeowners in the county's unincorporated area who earn between 60 percent and 160 percent of the area median income to obtain 15-year loans at three percent interest for energy efficiency improvements. Although the program is funded through the California Energy Commission, the county's authorization was necessary for homeowners to participate in the program.

œThis is another opportunity for homeowners to get some assistance in making their homes more energy-efficient, said Supervisor Pam Slater-Price.

The California Rural Home Mortgage Finance Authority program is available for rental properties as well as owner-occupied residences. There is no minimum credit score, no appraisal, and no debt-to-income requirements. The California Energy Commission has made $16.5 million of funding available statewide, and the California Rural Home Mortgage Finance Authority anticipates the funding of 589 loans throughout the state.

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