Right now, there are more than 70 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. Furthermore, these are not like those run-down, dilapidated dumpy REO's that the market is saturated with. No way, more than half of these properties are totally move-in ready; properties that upgraded and/or totally remodeled properties.
For example, like this spectacular 4bd/2ba pool home with nearly 1,500 sq. ft. of living space on a large lot of nearly 10,000 sq. ft. This home offers a remodeled kitchen with granite countertops and stainless steel appliances w/slide out pantry drawers.
There's also a remodeled master bathroom and new windows throughout the home. There's also a new furnance and crown molding throughout the home. A private backyard with basketball area for the kids and a huge pool with waterslide & covered patio.
Or this move-in ready 4bd/2ba pool home with more than 1,800 sq. ft. of living space on a corner lot of more than 7,000 sq. ft. This home features new tile entry and a remodeled cook's kitchen with granite counters, custom tiled backsplash, stainless steel dishwasher, island bar and custom cabinetry. There's also new carpet, new paint, new flooring.
Or this beautiful 4bd/2ba pool home with nearly 1,300 sq. ft. on a large lot of more than 8,000 sq. ft. This remodeled home features new kitchen cabinets, new appliances an new granite counters. There's also new paint inside and out, double pane windows, smooth ceilings, recessed lighting and a new sliding glass door. Lastly, there's new carpet, a new roof new landscaping.
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 owned a home while married and displaced homemakers may qualify even if they owned a home in the previous three years.
- Program eligibility will be based on total household income, a housing cost ratio not to exceed 35%, and a debt-to-income ratio not to exceed 45%.
- The primary loan must be a fully amortized loan. No interest only loans for the first trust deed.
- Buyers must occupy the unit as their primary residence.
- A portion of the proposed $50,000 per bedroom subsidy may be used for necessary repairs to bring the property into compliance with the City's Housing Quality Standards (HQS).
The maximum home price and City subsidy limits appear below:
|
# Bedrooms |
Maximum Market Purchase Price |
Per Bedroom Subsidy Limits |
Maximum Affordable Sales Price |
|
1 |
$206,700 |
$50,000 |
$156,700 |
|
2 |
$280,900 |
$100,000 |
$180,900 |
|
3 |
$349,300 |
$150,000 |
$199,300 |
|
4 |
$418,600 |
$200,000 |
$218,600 |
For more info on how you can qualify for down payment assistance to purchase one of these homes, contact me, Donne Knudsen of Cobalt Financial Corp, at 805.5278554 or donne4loans@earthlink.net.
Today's real estate market and lending environment can be really scary, which is why it's important to get as much information as possible before starting your search. Finding out more about affordable home loan options and getting pre-approved is an absolute must. The pre-approval process is relatively simple so contact me today to get pre-approved for this incredible program and make one of these fantastic properties your next home.
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