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.