The Employee Down Payment Assistance Program is an employee benefit open to all regular County and Housing Authority employees who do not currently own a home in San Mateo County. Eligibility includes full-time, permanent employment with the County or Housing Authority for at least 18 months, regardless of income.

The program is designed to encourage employees to live within the County, decreasing the environmental impact and the physical/emotional effects of a long commute.

The program offers a $100,000 down payment assistance loan towards the purchase of a home in San Mateo County. The loan is deferred for the first, five years, amortized for 30 years at three percent interest. The County also offers a $5,000 grant, to awardees, for those moving to San Mateo County from outside the County, to help cover closing costs.

To qualify for the program, employees must receive a pre-approval letter from San Mateo Credit Union. Those who receive a pre-approval letter will have their name included in a drawing as funds for the program are limited.

Up to five loans will be available, via a drawing, each quarter while funds are available.

AT THIS TIME (MAY 2020) ALL FUNDS HAVE BEEN ALLOCATED.

If funds become available another drawing could occur in Fall/Winter 2020.

Prior to the drawing, the County will host several Employee Down Payment Assistance Program “Lunch and Learn” seminars. Dates and Times will be determined, when funds become available.  

For more information about the program, please see the PDF’s below:

  • Presentation from San Mateo County Employee Down Payment Assistance Program Seminar
  • Guidelines – San Mateo County Employee Down Payment Assistance Program
  • FAQ – San Mateo County Employee Down Payment Assistance Program

If you have additional questions, please contact Nila Kim at nhkim@smchousing.org