Buying a Home is No Longer Impossible

WANT TO BUY A HOUSE? DAN SOSA TELLS US HOW...

Did you know that there are Loan programs available throughout the State of California designed to assist Low and Moderate Income Californians to purchase the home of their dreams?

And the great news is that if you don’t exceed the programs income limit (meaning you don’t make too much money) and have a qualifying credit score (contact us for specifics,) that you are most likely eligible for programs that can assist you with both down payment and closing costs? And better yet, some programs can be “layered or stacked” on top of one another, which allows you to maximize your Home Purchasing Power. Contact us today as every program has its own unique set of qualifying criteria, which adds to the complexity of qualifying and processing of your loan application. Here is list of programs that are offered here in California:

-CalPLUS with ZIP EXTRA Homebuyer Assistance Program

• CalPLUS with ZIP is CalHFA’s premiere homebuyer assistance program that provides between 3% - 4.5% in down payment assistance.CalPLUS is offered in both FHA and Conventional financing.This program also has household and County income limits.Contact us for details.

• Zero Interest Program (ZIP)

• ZIP’s are an additional loan that sits on top of the first lien/mortgage.This loan can be stacked allowing a buyer to obtain up to 3 loans in total.This loan is a deferred payment (silent) that can be forgiven.Contact us for details.

• CalHFA MyHome Assistance Program

• The MyHome Assistance program provides 3% in down payment and closing cost assistance to First Time Home Buyers in California.Eligible applicants must meet qualifying requirements for the CalFHA CalPLUS Loan Program

• GSFA Platinum Grant

• Golden State Finance Authority offers 3% - 5% assistance in the form of a non-repayable grant to provide affordable financing to California residents.The GSFA Platinum grant works with Conventional, FHA, and VA Home Loans and does not require you to be a First Time Home Buyer.It is Eligible in all Counties in California that literally provides a grant (free money) to help you purchase a home.

• Mortgage Credit Certificate (MCC)

• The Mortgage Credit Certificate makes home ownership more affordable for First Time Home Buyers by reducing a buyers Federal Income Tax liability.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.

The bottom line is that many of these programs can make home buying possible to many that think it is not a possibility. Contact my team here at Stearns Home Loans Branches of the Central Valley as “we can help you!”