Down Payment Assistance Programs

Want to buy a home but need some help. Here is another great resource to locate downpayment assistance programs. Give it a try or contact Tony or Dina for additional assistance. 

In the Golden State, the primary sources of home funding include downpayment loans and grants, mortgage credit certificates, sleeping seconds and bond-rate financing, In addition, many local, state and national housing assistance agencies offer programs to help first-time and low-income homebuyers obtain affordable housing. In fact, your REALTOR® can use Fannie Mae's Homebuyer Funds Finder to help you learn more about financing options that are available in your community. 
Most federal programs carry similar stipulations for eligibility: You must not have held primary ownership in any property within the last three years and your household income must not exceed 80 percent of the U.S. Department of Housing and Urban Development's (HUD) median income level per region. Once you?ve selected a house, call the local housing authorities or ask your REALTOR® to contact the local Housing Department or Community Development Department to find out about homebuying assistance programs that are available in your area. 
You also can research assistance options that may be offered through your employer. For example, some companies allow employees to borrow against their 401(k) or pension funds. Other employers, especially state and federal government municipalities, offer direct assistance as a company benefit. Or, if you're a veteran, you're eligible to take advantage of the assistance programs offered by the California Department of Veterans Affairs (Cal-Vet). 
In addition to the federal programs available, many state agencies and individual cities offer financial-assistance programs for homebuyers. Click Here For More Information

Popular posts from this blog

7 Steps to Take Before You Buy a Home

10 Years After the Crash, the Boom Times Are Back in Real Estate—but Way Different

Glendora Unified School District Local school bonds Measure GG. District to issue $98,000,000 in bonds. Who Pays? You Won't Find It In The Ballot Excerpt.