If you are a first time home buyer earning between $11,600 – 58,500 (depending on your household size – i.e. household with two parents and one child or roommate is a 3 person household, and the maximum allowable income right now would be $39,850 for the entire household), did you know there is a program available that offers RIGHT NOW, TODAY eligible first time home buyers up to $15,000 to help them buy a home in the City of Medford Oregon? No waiting, no requirement the home is a foreclosure, as the Neighborhood Stabilization Program requires. So, how might this work?

A family purchased a home in July using the City of Medford First Time Buyer Assistance program. They received a gift from family for the minimum 3.5% down payment on the FHA loan program they chose for their first mortgage. The Medford First Time Home Buyer program matched their 3.5% AND paid all closing costs AND prepaid expenses. So, the roughly $12,000 this family received in first time buyer assistance funds is a “silent second” – a second mortgage recorded against the home until they move out or refinance the home.

This silent second bears no interest and has no monthly payments, so it helped this family pay less than they were previously paying for rent. Want to find out if YOU are eligible? Contact me today, and I’ll be happy to assist you.

See you at the closing table!

Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com