closing cost assistance: WEST HOLLYWOOD CONDO: Eligible for Fannie Mae HomePath Program - 09/19/11 03:32 PM
One of the hardest hit markets in Los Angeles & Ventura counties is the condo market. Nowadays, condo financing is extremely challenging because so many condo complexes are simply not eligible for any kind of financing, - PERIOD!!! For buyers in the lower end of the market here, buying a condo is nearly impossible.
As a result, many condo sales are strictly all-cash investors looking for rental income, which makes any future financed sales even more remote and less likely than ever before. The biggest issue with getting condo financing is that a) the owner occupancy rates are too low, b) the … (10 comments)
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closing cost assistance: CITY OF VENTURA - Home Buyer Assistance Program (HBAP) - Part 4 - 02/09/09 10:34 PM
The City of Ventura offers the Home Buyers Assistance Program to qualified individuals and residents whose income does not exceed the maximum income limit guidelines for their family size.
What is Required to Participate?
Your income must be within the program income limits. The applicant must not have had an ownership interest in a principal residence in the last three years preceding the date of application. The Homebuyer must occupy the home as a principal residence. You must be able to contribute a minimum of 3% of the purchase price, which may be in the form … (16 comments)
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closing cost assistance: CITY OF SIMI VALLEY - First Time Home Buyer Program - Part 3 - 02/09/09 10:18 PM
The City of Simi Valley offers a First-Time Home Buyer Assistance Program to qualified low income first-time homebuyers who wish to purchase their first home in Simi Valley. I like this program because the Simi Valley city administrators for this program are not only the easiest ones to reach but they are also some of the friendliest ones to talk to and deal with.
The property may be a detached or an attached single-family home, a condominium, or a town house. The program is available to those who have not owned a home in the last three years. Single parents who … (18 comments)
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closing cost assistance: CITY OF PORT HUENEME - Home Buyer Assistance Program (HBAP) - Part 2 - 02/09/09 09:46 PM
The city of Port Hueneme actually has two different down payment assistant programs, the Home Buyer Assistance Program (HBAP) and the CalHOME program. Both programs are specifically geared to the low-moderate income individuals and families. Both programs have sufficient funds for new applicants and reservations although the CalHOME program is a little more limited than the HBAP.
Home Buyer Assistance Program (HBAP)
Down payment assistance is provided in the form of a secured 2nd mortgage with contingent, deferred interest in the form of an equity share in the property. Loan proceeds may only be used toward the purchase of a single … (0 comments)
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closing cost assistance: CITY OF OXNARD - Down Payment Grant - Part 1 - 02/09/09 09:21 PM
The City of Oxnard's program provides down payment assistance to individuals and families for the purchase of new or used homes, condominiums, manufactured homes or mobile homes.
The City will provide a matching grant up to $10,000 for down payment assistance and/or closing costs funds. For example, if the buyer contributes $3,000, the city will contribute $3,000; if the buyer contributes $5,000, the city will contribute $5,000 etc.
The term of the grant is five (5) years if the grant is $5,000 or less, and ten (10) years if the grant is over $5,000. The grant will be forgiven at the … (4 comments)
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closing cost assistance: ATTENTION VENTURA COUNTY REALTORS & THEIR FIRST TIME BUYERS: Down Payment Assistance is Still Alive in Ventura County - 02/09/09 07:12 PM
With the death of seller funded down payment assistance programs last fall, I thought that many of the local programs here in Ventura County would quickly follow suit. However, that hasn't been the case. Here in Ventura County, down payment assistance is still alive. When I first started this post about the different programs here, it soon became obvious that to put all of this great info into one post would definitely be asking too much for people to read. In other words, it was waaayyy too long.
It has been kindly suggested to me by some of my fellow Rainers … (0 comments)
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