Section 50862.5 Of Chapter 14.5. Building Equity And Growth In Neighborhoods Program From California Health And Safety Code >> Division 31. >> Part 2. >> Chapter 14.5.

. Downpayment assistance provided pursuant to this chapter shall be in the form of a second mortgage loan. The maximum amount of the loan shall be set in the current Notice of Funding Availability (NOFA), but in no case shall the loan exceed 20 percent of the sale price of the residence. The loan shall accrue simple interest.