There are currently three properties available in this FHA approved, Port Hueneme complex that are eligible for down payment assistance. At the end of Surfside Dr. and only a block from the beach, this complex offers an indoor pool, spa, clubhouse, playground, workout room, fishing pier and garages for the larger units with covered carports for the smaller units.
For the young professional looking to get out on their own (and out of their parents home) or the young couple just starting out, for $1,725 a month (PITI+HOA), you can own this 3bd/2.5ba unit with nearly 1,300 sq. ft with its own private sundeck and a garage with a driveway. Close to shopping, restaurants, the pier, the marina and the CBC Naval Base, this property is by far, your best bang for your buck for a beach lifestyle in this wonderful seaside community.
The best part is that these units are eligible for CalHFA's FHA program as well as the down payment assistance program, CHDAP, too. CalHFA FHA offers a reduced interest rate for eligible homebuyers who meet the low-medium income limits (based on household size). The following are the current rates to eligible low-medium income applicants:
CHDAP provides down payment assistance in the form of a deferred payment second loan, commonly referred to as a "silent second" because you make no payments on the loan for as long as you hold the loan. The amount of the loan is up to the lesser of three percent (3%) of the purchase price or appraised value. Interest is calculated at 3.25% per annum simple interest and is not due until the loan is sold and/or refinanced.
Today's real estate market can be really scary, which is why it's important to get as much information as possible before starting your search. The pre-approval process is not a simple process and it's because it can get really complicated and convoluted, that borrowers today need affordable loan options that are best suited for their own needs.
That's what I'm here for and I would love to be able to assist you in your search for an affordable home loan here in Ventura County. For more information, please feel free to contact me, Donne Knudsen, at 805.5278554 or donne4loans@earthlink.net.
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