Special offer

Good News for First-time California Buyers! Just 1% of the Purchase Price can get you through the door!

By
Real Estate Agent with Coldwell Banker Coastal Alliance

California has a “first-time buyers” assistance program for moderate income buyers know as the CalHFA program. Although the loan is a typical FHA loan that requires a minimum of a 3.5% down payment it does offer a somewhat lower interest rate. The really neat aspect of this program is that a portion of the down payment can be obtained through a 2nd loan supplied by CHDAP, California Homebuyer’s Downpayment Assistance Program. And unbelievable as this sounds, this second loan is that is not due until the house is sold or the loan paid in full. One requirement of the program is that at least 1% of the purchase price must be supplied as a downpayment by the buyer.  Therefore a home that is selling for $300,000 can be obtained with just $3,000 from the buyer’s pocket. 

 

For more specific information on this loan program please contact Doug Van Duser at Western Mutual Homes Loans 562-760-9634.

 

I am an expert first-time home buyers sales agent and would be more than happy to assist with your home purchasing process. Please call me at 562-243-2171 or you can email me at MicheleK1010@gmail.com.

 

I Know Long Beach and I Love Los Altos!

 

@LifeInLosAltos


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