Frequently Asked Questions
Below you will find information that might help you understand how to find things or learn about information you might need to know about your city or town.
Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, income and employment qualifications are only required to be met upon purchase.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, units purchased through the program cannot be short-term rented or used as Bed and Breakfast Inn rentals.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
Yes, owners will be permitted to long-term rent to a program-eligible tenant. See Program Guidelines Section 7.2 for details.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
Yes, owners can refinance their first mortgage loan, but there are restrictions on the amount received from refinancing. If an owner is interested in refinancing, they must first contact the program administrator for approval and subordination request.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, HELOC, home equity loans, or reverse mortgages are not permitted.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, the deed restriction cannot be bought out.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, there is no appreciation cap on units purchased through the program.
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Housing - Truckee Home Access Program (THAP Unit Use Restrictions)
No, there is no limit to the number of properties that can be restricted through the program. However, for individuals, properties purchased through the THAP program must be owner-occupied with limited exceptions for long-term renting (See Program Guidelines Section 7.2). For developers and local businesses, participation in the program must be approved on a case-by-case basis by the Town Council.