Housing Grants

Information on current, open housing grants that are available to eligible homebuyers and property owners are discussed below.

  1. 17-CDBG-12096
  2. 16-Home-11381
  3. Other HOUSING FUNDING Programs

This grant awarded $700,000 for Rehabilitation Funding and Homebuyer Assistance for eligible homebuyers and property owners. The grant expenditure deadline is July 31, 2021. This grant is provided through the State CDBG Program and is administered by Mammoth Lakes Housing, Inc. with oversight by the Town.

Additional Information on Grant 17-CDBG-12096

For information about the CDBG grant program, please contact Mammoth Lake Housing, Inc at (760) 934-4740 or visit MammothLakesHousing.org


17-CDBG-12096

(Grant Expenditure Deadline is July 31, 2021)

This grant awarded $700,000 for Rehabilitation Funding and Homebuyer Assistance for eligible homebuyers and property owners. Additional information on the eligibility requirements are available below.

Award Letter 7-10-2018

Council Resolution 18-67

For information about the CDBG grant program, please contact Mammoth Lakes Housing, Inc. at (760) 934-4740 or visit MammothLakesHousing.org.

  1. Rehabilitation Funding
  2. HomeBUYER Assistance

Program Details

Rehabilitation funding for eligible improvements under this grant is available for the following:

a) 0% interest loans up to $50,000* for households with a combined income of less than or equal to 80% of the Area Median Income (AMI)**
      * Note: Repayment is deferred until the owner sells, no longer occupies the home, or another qualifying            event occurs
b) 0% interest loans up to $75,000* for investor-owned properties of 1-4 units where all of the tenant households have a combined income of less than or equal to 80% of the Area Median Income (AMI)**
      * Note: Repayment begins immediately and is spread over 10 years
c) Limited number of $10,000 grants* for households with a combined income of less than or equal to 50% of the Area Median Income (AMI)** AND where the owner is a Senior Citizen (Age 62+) or one or more occupants is physically handicapped.
     * Note: Total grant expenditures is limited to $70,000 of the total CDBG program funds

**For a family of 4, the 2019 Mono County 80% AMI limit is $62,300 and the 50% AMI limit is $38,950

Eligible improvements include: (a) Health & Safety Repairs; (b) Updates to comply with current Building Code; (c) Fix siding damage, water damage, flooring, or interior walls; or (d) Energy conservation & woodstove replacement.

CDBG Rehab Flyer 2019 - English
CDBG Rehab Flyer 2019 - Spanish
CDBG HBA Flyer 2019 - English
CDBG HBA Flyer 2019 - Spanish


16-HOME-11381

(Grant Expenditure Deadline is September 30, 2020)

This grant awarded $500,000 for Homebuyer Assistance for households that earn less than or equal to 80% of the Area Median Income (AMI). Additional information on the eligibility requirements are available below.

Award Letter 7-13-2017

Council Resolution 18-58

For information about the HOME grant program, please contact Mammoth Lakes Housing, Inc. at (760) 934-4740 or visit MammothLakesHousing.org

  1. HOMEBUYER ASSISTANCE

Program Details

Homebuyer assistance under this grant is available for the following:
a) Households with a combined income of less than or equal to 80% of the Area Median Income (AMI)*; and
b) A purchase price of less than $387,000**

** The maximum purchase price is adjusted each year. The 2019 rates for Mono County are available here: New Homes / Existing Homes


Other Housing Funding Programs

  1. grant Program Income
  2. Revolving Loan Fund

Program Details

This program allows for the re-investment of grant funds from the CDBG, HOME, and BEGIN grant programs into the community by providing deferred-payment loans for first-time homebuyers. The re-investment money comes from the re-payment of loans that were made with the original grant money. The loans are generally limited to the same income levels as the original grant and are subject to the same program guidelines. 

For information about these programs, please contact Mammoth Lake Housing, Inc at (760) 934-4740 or visit MammothLakesHousing.org.  

Applications:

Information on the eligibility requirements for each program is below.

CDBG

  • Limited to households with a combined income of less than or equal to 80% of the Area Median Income (AMI) (For a family of 4, the 2019 Mono County 80% AMI limit for CDBG is $62,300)
  • Meets the CDBG definition for an "Eligible Homebuyer"
  • No purchase price limit; Loan amount cannot exceed $200,000
  • Program Guidelines

HOME

  • Limited to households with a combined income of less than or equal to 80% of the Area Median Income (AMI) (For a family of 4, the 2019 Mono County 80% AMI limit for HOME is $62,300)
  • Meets the HOME definition for an "Eligible Homebuyer"
  • Purchase price limited to $387,000 (Adjusted each year)
  • Program Guidelines

BEGIN

  • Limited to households with a combined income of less than or equal to 120% of the Area Median Income (AMI) (For a family of 4, the 2019 Mono County 120% AMI limit for BEGIN is $97,450)
  • Meets the BEGIN definition for an "Eligible Homebuyer"
  • Site-specific and only homes within Aspen Village at Mammoth Creek Townhomes, San Joaquin Villas, and Meridian Court are eligible to receive funding
  • Loan amount not to exceed 20% of the purchase price.
  • Program Guidelines