Learn More About California Open Doors GSFA Program  and California Platinum Program by Golden State FinanDown Payment Assistance Program From it's Official Website: CALL OR TEXT JASON WHIGHAM NOW TO GET PRE-APPROVAL LETTER WITHIN 24 HOURS, CALL OR TEXT JENIFER NOW TO GET A LIST OF HOMES TO VIEW. There are no income limits. GRANTS up to $6,000. Assistance funds must be repaid when home is sold and the city takes 20% of your home’s appreciation in value (not good). Down Payment Assistance products offered in California include, CalHFA, GSFA Platinum, Santa Cruz County Association of Realtors Housing Foundation (SCCARHF) Closing Costs Assistance Grant Program, City of Carpinteria Workforce Homebuyer Program, CHENOA Fund Program, and … Buyer funds can be gifted from a family member. California Housing Finance Agency (CalHFA) - homebuyer programs, including downpayment and closing cost assistance, and foreclosure prevention resources CalVet Home Loans - for Veterans to buy a home in California; Community contacts - find out if your community offers homeownership assistance; Habitat for Humanity - through volunteer labor, builds and rehabilitates houses for families in need California Down Payment Assistance. Funds can be used for down payment or closing costs, in the form of a deferred silent second mortgage. Riverside County Down Payment Assistance is funded by the Economic Development Agency (EDA). WISH. There are 357 programs delivered by 231 agencies. However, every assistance program has it’s own unique set of qualifying criteria, which adds to the complexity of qualifying and processing of a loan application. Must earn no more than 80% of the Area Median Income. DTI ratios up to 56%. How Much Can You Get? Low Income Purchase Assistance (LIPA) Provides up to $90,000 down payment assistance on 1 unit properties for first time homebuyers in the city of Los Angeles only. Amount of assistance up to $60,000 for a second mortgage loan (or 20% of the purchase price whichever is less). All you have to do is not exceed the programs income limit (if it has one) and have a credit score of at least 600, you are most likely eligible for some kind of assistance! The California Down Payment Resource Directory is a powerful search tool that identifies current down payment assistance programs in communities throughout California. Should You Consolidate Debt or Renegotiate Interest Rates Before Buying a Home? Neighborhood Housing Services of the Inland Empire (NHSIE) – Offers down payment assistance to people in Riverside and San Bernardino through these programs. The ECTP teacher loan provides $7,500 to $15,000 for down payment that has an interest forgiveness feature when employed at the school for at least three years. CalPLUS is offered in both FHA and Conventional financing. Down Payment Assistance Program Available For New Homebuyers - Mill Valley, CA - A returning Wells Fargo program aims to help make homeownership … Call My-Down Payment Assistance 800-807-5022 - Team Whigham service all of Northern California and Southern California! CalHFA MyHome Assistance  Program – The MyHome Assistance programs provides $10,000 or 3% to 3.5% of the sales price or appraised value, whichever is less in down payment and closing cost assistance to first time homebuyers in California. CalPLUS w/ ZIP EXTRA Homebuyer Assistance Program – CalPLUS w/ ZIP is CAlHFA’s premiere homebuyer assistance program that provides between 3% to 4.5% in down payment assistance, reduced mortgage insurance premiums. – Home Ownership Made Easier program is 100% financing for low income wage earners. CalPLUS is offered in both FHA and Conventional financing. Extra Credit Teacher Program (ECTP) – *** ECTP has been Discontinued***  CalHFA offers a first time homebuyer program for Teachers, Administrators, school Staff, who work in a High Priority school in California. Call My-Down Payment Assistance 800-807-5022 - Team Whigham service all of Northern California and Southern California! While these programs can offer up to 20% down payment assistance, it does require decent credit history and does have more restrictive debt-to-income qualifying ratios that can prevent buyers from qualifying for much higher priced homes….even with the large down payment. They have three programs that offer assistance to home buyers with low to moderate income. Most people, including real estate agents and lenders, are shocked when I tell them there are more than 260 fully funded homebuyer assistance programs in California. Provides a loan of up to $60,000 for down payment, closing costs, and acquisition for first time homebuyers earning between 81-120% Area Median Income (AMI) and up to $35,000 available for homebuyers earning between 121%-150% AMI. Here is one county program. California Down Payment Assistance Programs. Answer:  Contact me. (ACCESS program has been DISCONTNUED). Down payment assistance up to $10,681.00 for California teachers, nurses, police, firefighters, government employees and military. The California Housing Finance Agency (CalHFA) MyHome Assistance Program provides down payment help for eligible buyers. Financial help and grants are available in all cities and counties listed below including Los Angeles, San Diego, and San Francisco. Moderate Income Purchase Assistance (MIPA). These programs also tend to take 60+ days to close escrow so consider that when deciding to use this program. We specialize in downpayment assistance programs throughout all of California. Northern California And Southern California Down Payment Assistance In California - CA Areas Serviced. Eligible in all counties in California literally provides a grant to help you purchase a home. This type of assistance is often called a second or subordinate loan. California Down Payment Assistance Programs. MyHome provides a deferred-payment junior loan – up to 5% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. Paying less taxes means you have more income that can be dedicated to paying your mortgage and can even help you qualify for a larger home loan! Homebuyers can use the money to cover their down payment or closing costs. MIP • Choose an optional grant - forgiven at closing, no lien (approx 1-4.5% of the 1st mortgage total loan amount) Funds available while they last …first come, first serve. The W.I.S.H. Until the markets find their new normal the situation is a fluid, day-to-day determination. California Housing Finance Agency - CalHFA provides financing and programs that create affordable housing opportunities for low- and moderate-income Californians. Down Payment Assistance Loan is unique in that it is fully forgiven after a 5 year period. Homeloanartist.com, & Brad Yzermans are not affiliated with or representing FHA, VA, CalHFA, USDA, FNMA or any other government agency. • Down payment and/or closing cost assistance • Comes with deferred payment, 0% interest 2nd lien of 2.0% of the total 1st mortgage loan amount incl. Qualifying for a down payment assistance program is not that difficult. Down Payment Assistance in California. Down Payment Assistance Program. Always check with your lender (us) to find out if assistance funds are still available before making an offer on a home. San Bernardino County offers similar EDA down payment assistance but exhausted all of their NSP assistance funds. Call My-Down Payment Assistance 800-807-5022 - Team Whigham service all of Northern California and Southern California! Call direct: (951) 215-6119 or contact us here. Property must be inspected by the city, which often asks for many repairs to be made…..many sellers do not like that and will not accept any offer from a buyer using this program. Question: Who do I contact about qualifying for down payment/closing cost assistance from the city, county, state, or a non-profit agency? Call direct: (951) 215-6119 or. Equal Housing Opportunity Lender, Success Stories……Real People, Real Experiences, Real Reviews, California Upside Down Mortgage Refinance – HARP, Qualifying for a down payment assistance program, CalPLUS w/ ZIP EXTRA Homebuyer Assistance Program, California Homebuyer’s Down Payment Assistance Program (CHDAP), CalHFA School Teacher & Employee Assistance Program, Housing Authority of San Bernardino Homeownership Assistance Program, Santa Ana Homebuyer Down Payment Assistance Program, Everything You Need to Know About Credit Scores. No one making $49,700/year in Riverside County can qualify for a home. The City of Brentwood offers first-time homebuyers the Down Payment Assistance Program (DAP), which provides funds that go toward the down payment and/or closing costs. Property cannot be occupied by a renter. Guess what…37% of the programs DO NOT require you be a first time home buyer! The GSFA Platinum grant works with Conventional, FHA, and VA home loans and does not require you be a first time buyers. GSFA HFA Platinum Grant – Golden State Finance Authority offers 3% to 5% assistance in the form of a non-repayable grant to provide affordable financing to California residents. Budgetary restrictions have all but eliminated most local City and County down payment assistance programs. GET STARTED (619)992-4061 There are millions of dollars available to cover down payment and closing costs to help home buyers in California. The CalHOME assistance program requires family household income not exceed make 80% of the Riverside County area median income. If you would like to find out if a particular city or county has a home buyer/mortgage assistance program that you may qualify for, please call me directly (951) 215-6119. Fair Housing Council of Riverside County: (800) 655-1812. They provide a set amount of money to qualified homebuyers. California Homebuyer’s Down Payment Assistance Program (CHDAP) – One of CalHFA’s most popular assistance program has been DISCONTINUED and replaced by the MyHome Assistance program. Equal Housing Opportunity Lender. $394,000 is the max sales price. Who do I contact about qualifying for down payment/closing cost assistance from the city, county, state, or a non-profit agency? The School Teacher and Employee Assistance Program provides up to 3.5% down payment assistance to eligible first time homebuyers.Eligible buyers must be employed at any K-12 California public or charter school, school district offices, and county or continuation schools. Did you know, another recent study by RealtyTrac found that 87% of all homes qualify for some sort of homebuyer or down payment assistance program based on the average sales price and buyer’s income? California Firefighter Down Payment Assistance (CFDPA) – This Firefighter down payment assistance program provides assistance to first time homebuyers who are employed (not just firefighters) by the federal, state, local, or tribal fire department. Applicants must contribute a minimum of 1% of the home price from their own funds as down payment. Eligible buyers cannot exceed the county income limit. The mortgage lender who qualifies you for the mortgage loan also determines your eligibility for a home buyer assistance program. The more local the assistance program, the more complex or ‘quirky’ it becomes. Up to $15,000 in down payment funds provided at a 3:1 match and FULLY FORGIVEN after 5 years. Assistance Type and Terms Grants to local public agencies and nonprofit developers to assist individual first-time homebuyers through deferred-payment loans for downpayment assistance, home rehabilitation, including manufactured homes not on permanent foundations, acquisition and rehabilitation, homebuyer counseling, self-help mortgage assistance, or technical assistance for self … Borrowers do not have to first time buyers and can even own other properties. But by offering a Riverside down payment assistance program via Zero Down California ™, many Riverside County residents can now make the transition from renter to owner with ease. CalHFA School Teacher & Employee Assistance Program – STEAP provides down payment assistance to eligible teachers, administrators, school district employees, and support staff at K-12 public and charter schools, district offices, and continuation schools. California home buyers can get down payment assistance to cover your down payment and closing costs from a variety of sources nationwide. Community Home Advantage Program (CHAP) – CHAP provides a reduced interest rate or closing cost credit for homebuyers and homeowners who want to purchase or refinance a home located in an eligible county and zip code of California. HOP loans are available in the unincorporated areas of Los Angeles County and cities participating in the Community Development Block Grant (CDBG) Urban County Program. Housing Trust Silicon Valley - The Housing Trust Silicon Valley offers down payment assistance programs for low- and moderate-income first-time homebuyers. The California Firefighter Down Payment Assistance (CFDPA) program provides homebuyer assistance to eligible Firefighters and all fire department employees of the State, Federal, Local, or a Tribal fire department in California. Available in all counties throughout California, buyers only need a 620 credit score and can DTI ratios can go up to 50%! NHF Sapphire Grant – NHF provides up to 4% grant money for eligible home buyers that never has to be repaid. We specialize in downpayment assistance programs throughout all of California. The amount owed will decrease by 20% for each of the 5 years the borrower retains CAR Homeowners Association Grant – (Program suspended) The California Association of Realtors® Housing Affordability Fund provides qualified first time California homebuyers up to 6 months of HOA dues. Borrowers can make up to $128,000 and be eligible. Patriot Pacific Financial Corp & Brad Yzermans are licensed to lend in California. CHF 3% ACCESS Down Payment Assistance – CHF ACCESS offers 3% down payment assistance in the form of a second lien. FYI – I have access to nearly all homebuyer assistance programs in California. Mon-Fri 8:00 AM – 6:00 PM PST | Sat 9:00 AM – 12:00 PM, For CA First Time Home Buyers Loan Officers - Team Whigham Serving all of California Residence - Sacramento, Roseville, Folsom, El Dorado Hills, Rocklin, Davis, Granite Bay, Loomis, Auburn, El Dorado, Placer County, El Dorado County, Sacramento County and Surrounding areas Call us for more information 800-807-5022. The biggest problem with this program is borrowers cannot exceed 80% of the published HUD AMI limit….which is like $49,700 for a family of 4 in Riverside County. Eligible buyer household income cannot exceed the 80% of the AMI and must contribute 3% of their own funds (cannot be from gift source). © All Rights Reserved. Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R. Assistance is in the form of a 2nd mortgage which may or may not be forgivable, 620 minimum credit score, and borrowers DO NOT have to be first time buyers. Many lenders purposely withhold valuable information and not inform you about all your options (because they cannot offer them) or to prevent you from seeking assistance from a lender who is more experienced or can offer more or better assistance programs. CalHFA down payment assistance programs For many first-time homebuyers, saving up for a down payment and closing costs is one of the most daunting challenges to homeownership. NOT A GOVERNMENT. This program must be combined with a CalHFA first mortgage loan. SCHFA FIRST HOME Grant Mortgage Program – Offered by the Southern California Home Financing Authority. Housing Authority of San Bernardino Homeownership Assistance Program – Must reside in SB County for 1 year prior to applying, participate at least 1 year in SB housing program, and contribute a total down payment of 3% of the purchase price. Not limited to first time buyers, available in all counties, and has flexible qualifying credit requirements. Eligible buyers cannot exceed the county income limit. San Bernardino Home Ownership Assistance Program is offered by the Dept. And though their down payment assistance is not hefty as the LIFT program, the state agency has higher assistance rates specifically for teachers, firefighters and veterans. The following agencies provide Homeownership Education workshops to explain the basics of the home-buying process, including credit repair, realtors, down payment assistance, financial planning, title reports, escrow and home maintenance. Property cannot be occupied by a current renter. Chenoa Fund Downpayment Assistance – Chenoa Fund offers the Chenoa Edge and Chenoa Advantage, both of which provide 3.5% of the sales price to meet the minimum down payment when using an FHA loan. California Down Payment Assistance Programs. Speed matters. Some homebuyers may be required to contribute more than 1% toward the down payment. Eligible applicants must meet qualifying requirements for a CalHFA loan program. My-Down Payment Assistance – loan Depot in Roseville CA is an Equal Housing Lender; Licensed by the Department of Business Oversight under the California … Community Connection of Northeast Oregon, Inc., is providing up to $15,000 for down payment and closing costs for veteran first-time homebuyers through their Veteran’s Down Payment Assistance Loan Program. In addition to the programs below, find government assistance as well as charities in California that can provide help with paying bills, rent, deposit or mortgage payments, transportation, medical care, and other expenses. Buyer must contribute 1% of their own funds towards the purchase. Eligible borrowers must be true first time home buyers and purchase in Orange County or Los Angeles County. HomePath Ready Buyer Program – Fannie Mae closing cost assistance program that gives buyers up to 3% when buying a Fannie Mae owned property. Verify your low down payment loan eligibility (Dec 7th, 2020) California Downpayment Assistance: CHDAP Since 1975, the state of California has … Property must be inspected by the city, which often asks for many repairs to be made…..many sellers do not like that and will not accept any offer from a buyer using this program. offers similar EDA down payment assistance but exhausted all of their NSP assistance funds. Funds are limited. © 2020 Brought to you by Jason Whigham - Pacific Wholesale Mortgage Loan Officer In Sacramento CA - NMLS# 1448396, California First Time Home Buyer Programs. . Is Qualifying for Down Payment Assistance Difficult? Provides homebuyer down payment and mortgage assistance loans to enable eligible low and moderate income families to purchase their first home in the unincorporated area and partner cities. FHA-VA-USDA Home Loans Down Payment Assistance, California Down Payment Assistance Programs, Most people, including real estate agents and lenders, are shocked when I tell them there are. Eligible in all 58 counties in California and do not have to be first time homebuyers. NOT A GOVERNMENT. Available anywhere in the state of California… Offers down payment assistance to people in Riverside and San Bernardino through these programs. of Community Development and Housing. So be prepared to spend a little time tracking down the one that suits you best. The assistance comes in the form of a 5-year deferred loan forgiven at 20% per year as long as the buyer owner occupies the property. California Financial Assistance Programs. Buyer Beware: Most lenders are not approved to offer a majority (or any) of the assistance programs you are likely eligible for. Assistance comes in the form of a deferred payment loan program for first-time homebuyers. Must be an eligible Veteran, Active Duty, Reserve, or National Guard first time buyer with low to moderate income. Eligible borrowers are any current, retired, or volunteer Peace/Police Officer, Border Patrol Agent, Correctional Officer, Firefighter, CalFIRE, Paramedic/EMT, Nurse, Teacher, veteran, or Military personnel. California Down Payment Assistance In the unpredictable situation we are currently experiencing in the mortgage market, both interest rates and the ability to offer some products are being impacted. Zero Down California ™ is the most flexible niche 100 percent financing program available to … Santa Ana Homebuyer Down Payment Assistance Program Neighborhood Stabilization Program offering up to $40,000 down payment assistance for first time homebuyers in the city of Santa Ana, Orange County. Monterey County Down Payment Assistance Program Home buyers interested in down payment assistance options in California must meet income and purchase price limits set by federal guidelines, while demonstrating creditworthiness and meeting standard mortgage underwriting requirements. The program requires at least 1% of the down payment must come directly from the participant. The lender provides a 2% grant and buyer only needs 1% of their own funds. A recent study found that 70% of first time home buyers (and current home owners) in California are not aware that millions of dollars in down payment assistance or closing cost assistance programs go unused each year. Buyers must contribute 1% of the sales price from their own funds. California’s Golden State Finance Authority (GSFA) created the Platinum Program, which provides low-to-moderate income California homebuyers with down payment and/or closing cost assistance to help them achieve their goals of purchasing a home. CalPLUS is offered in both FHA and Conventional financing. Down Payment Assistance is available in the State of California through local bond programs, national assistance programs and the State Housing Finance Agency (CalHFA). Realtors must provide and complete the application for the new homeowner. San Diego, Orange County, Los Angeles – Call for details on available county specific down payment assistance programs. Which is why you can start your estimate today. Buyers must contribute up to 1% of their own funds towards buying and have 1% in reserves. Homes to be purchased must meet current building code health and safety standards. The money you put "down" or the down payment on your home loan can be one of the largest hurdles for many first-time homebuyers. WEBSITE. © 2020 Temecula & Murrieta Mortgage Broker & Lender, | NMLS Consumer Access Site |   © All Rights Reserved. Without affecting your credit score. Dream Makers Grant – Homebuyer assistance grant that can be applied towards down payment or closing costs. City of Riverside Down Payment Assistance – Up to $50,000 assistance (silent 2nd loan) available to low income first time homebuyers with-in the city limits of Riverside, CA. Some areas included are: Sacramento | Natomas | Rosemont | Galt | New Castle | La Riviera | Rancho Cordova | Cameron Park | Fabulous Forties | Florin | Foothill Farms | Orangevale | Rio Linda | Elverta | Citrus Heights | Folsom | El Dorado Hills | Carmichael | Roseville | Lincoln | Loomis | Lodi | Antelope | Auburn | Granite Bay| West Roseville | Sun City Lincoln | Sun City Roseville | Auburn | Penryn | Gold River | Land Park | East Sacramento | Elk Grove| Pocket Area | Davis | Woodland | Contra Costa County | San Francisco County | Antelope | San Diego County |  Alameda County | Yuba City | Ione CA | Jackson CA | North Highlands | Los Angeles County| Orange County | Long Beach | Los Angeles County | Placer County | El Dorado County | Amador County | San Diego County | San Bernardino County | Orange County | Alameda County | Sacramento County and many more in the Northern California and Southern California area. 1% Down Conventional Equity Boost Grant – Down payment assistance program using Conventional financing for buyers with good credit and income. Borrowers cannot exceed 80% of the LA County area median income. All content copyright © 2020 homeloanartist.com. The biggest problem with this program is borrowers cannot exceed 80% of the published HUD AMI limit….which is like $49,700 for a family of 4 in Riverside County. Get great rates on an adjustable rate mortgage today – don’t miss these deals! Down payment assistance programs can be administered by a local or state housing authority, a nonprofit organization or directly through your lender. How Disputing Credit Can Get Your Loan Denied or Approval Delayed, Compare the CHDAP, Platinum and ACCESS Down Payment Assistance Programs, RealtyTrac Best & Worst Markets for Low Down Payment Buyer Affordability and Accessibility. Home buyers must also occupy the purchased home as their primary residence. Here is one county program. HOP loans provide up to $60,000 for all first-time buyers to assist with down payment and closing costs. BBVA will also provide up to $4,500 in lender credit help pay closing costs. WEBSITE. If you have a lot of time to waste, read the boring mortgage info below, otherwise, just click the GREEN button below and I will research which programs you will be eligible for. The SCHFA First Home grant provides up to 4% for your down payment. HELP Down Payment Assistance Grant – Provides 4.5% grant that can be applied towards the down payment or paying closing costs. Down Payment Grants in California Brentwood Down Payment Assistance Program. BBVA will also provide up to $4,500 in lender credit help pay closing costs. Call me to find and compare all of your homebuyer assistance options. CalHERO Down Payment Assistance – a forgivable grant for down payment assistance. No one making $49,700/year in Riverside County can qualify for a home. Your down payment or closing costs or Renegotiate Interest rates before buying a home come, serve. 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