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Down Payment Assistance is back, and just in time! Higher mortgage rates mean lower home prices! But rates aren’t going to stay high for much longer. And as the rates get lower, more homebuyers will come out to purchase .And as more homebuyers come out to purchase, California home prices will start climbing again .One of the worst times to buy is when everyone else is buying.
Have you been making excuses for not buying a home?“ Home prices too high” “Can’t save up enough money for a down payment” “It’s too complicated of a process”. Well, it’s time to stop making excuses and start making plans to move because home prices are normal, you now have a down payment, and I will uncomplicate the process for you.
ATTENTION REAL ESTATE AGENTS: This not FHA or CalHFA. There are no governments involved. No governments involved means super-fast closing times!
This is a Conventional program with a down payment assistance loan that we provide. The down payment assistance loan does not need to be paid back until you refinance or sell the home. We will provide a down payment of 3% - with a cap of $15,000 - and finance the remaining 97%.I have closed these loans in under 21 days from start to finish.
I remember talking to this young couple back in 2018.The couple were trying to save up enough money for a down payment. I told them about the down payment assistance programs, but they wanted to wait until they had enough to put 20% down. I was talking to another couple at the same time. This other couple found a nice condominium in a great area of Southern California. They fell in love with the condo and did not hesitate to use the down payment assistance program. Fast forward to today and you can probably imagine how much the first couple is kicking themselves for not using the down payment assistance. The second couple is now sitting on a huge chunk of equity in their condo and have plans to sell it and use a portion of the proceeds from the sale for a down payment on a larger single family residence for their growing family.
QUALIFICATION / REQUIRMENTS:
There is no limit on the amount of income you make for first time homebuyers. However, if the household income is below the Average Median income (AMI) level, you will receive an additional credit to help pay for closing fees! Click on the map below to check the (AMI) in your area:
If two people are purchasing, at least one person must be a first time homebuyer.
The buyer must have a middle credit score of at least 700.If two people are applying, we go by the middle credit score of the lowest person.
The buyer(s) must take an online first time homebuyers’ class, which we will provide.
To receive a quick zero down loan quote, please fill out the short form, click “Add to Cart”, then checkout. I will email you a quote that includes the monthly payments, rates, and fees. Thank you!
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