Security Deposit Loan Program
The City of Vacaville offers a loan program to assist low-income families who can afford to pay rent but do not have the necessary funds for a large security deposit. Under this program, eligible applicants may receive a loan from the City for an amount not to exceed the Security Deposit being requested by the landlord, or $1,000, whichever is less. If the landlord agrees to participate in the program, the City will make the payment directly to the landlord. The applicant will sign a Promissory Note with the City for the amount of the loan, which can be repaid in installments and is interest-free.
Eligibility Requirements
In order to use the Security Deposit Loan Program, the following requirements apply.
· The unit must be located in Vacaville city limits and must be a new unit for the tenant (existing tenancies are not eligible).
· The applicant must have lived or worked in Vacaville for at least one year.
· The applicant must show ability to pay the monthly installments, but insufficient means to pay the full cash deposit prior to moving in.
· Household income must not exceed 50% of the Area Median Income.
1 person household $26,400 5 person household $40,700
2 person household $30,150 6 person household $43,750
3 person household $33,950 7 person household $46,750
4 person household $37,700 8 person household $49,750
Application Process
For more information on how to apply for the Security Deposit Loan Program, please call the Housing Counseling Center at (707) 449-5610.
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