First Time Home Buyer Assistance of up to $125,000 is available now in Placer County!
If you are in the market to purchase your first home in the unincorporated areas of Placer County and need some assistance, you may be eligible for this excellent program. The program offers up to $125,000 to qualified home buyers in the area and has deferred payments. The deferral of the mortgage payment on this loan makes home ownership much more affordable.
The First Time Home Buyer Assistance program is designed to promote home ownership for lower income home buyers. Eligible participants must have gross household income below eighty percent of the median income of Placer County (adjusted for family size).
To be eligible for the First Time Home Buyer Assistance program an applicant cannot have had an ownership interest in a home during the three years prior to applying for assistance. There are a few exceptions to the three year rule that I would be happy to discuss on a specific case by case basis.
There are a few requirements for the First Time Home Buyer Assistance program. Two basic requirements are that the buyer must have a 3% down payment (these funds cannot be a loan or a gift) and that the home cannot be located within an incorporated area of Placer County.
The First Time Home Buyer Assistance program does have a shared equity requirement, which means that the County will participate in a percentage of any net profit in the subsequent sale of the home. This is a small price to pay for the benefit provided by the program.
The First Time Home Buyer Assistance program requires applicants to complete eight hours of education and provide a Home Buyer's Seminar certificate of completion. The classes cover the home buying process, budgeting, home maintenance, and being a good neighbor. I have spoken with clients that have earned their certificate and they all felt that the education was a valuable use of their time.
First Time Home Buyer Assistance funds are limited and are based on a first come, first served basis. If this program is of interest to you please give me a call at 888 232-9025 or email me email@example.com. I would be happy to answer any questions or refer you to a top real estate agent to help you find the perfect home.
Below is a link for you to start the pre-approval process for your 1st mortgage: