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ATTENTION SIMI VALLEY FIRST TIME BUYERS: Fantastic BELWOOD property is eligible for down payment assistance.

By Donne Knudsen

Mortgage and Lending with Los Angeles & Ventura Counties in CA

July 29, 2009 05:20 PM

This BELWOOD mixed use property located at 2789 Tapo St is an unusual 3bd/2ba home with more than 1,500 sq. ft. on a nearly 8,000 sq. ft. lot. This incredible BELWOOD property is located just minutes from shopping, dining and entertainment spots.

But that's not the best part! With this BELWOOD property, there's no more commuting! This property is set up and zoned to accommodate a small business office setting as well as a residential home. This is the perfect property for that small business owner who wants to walk to the office instead of drive. This is not a short sale or an REO and currently has so no other offers on it.

But that's not the best part! The best part about this BELWOOD home is that it's eligible for $105,000 in down payment assistance from the city of Simi Valley First Time Buyer Program.

As far as affordable housing programs go, the city of Simi Valley has one of the best down payment assistance programs I have ever worked with. For more info on their program, check out Simi Valley First Time Buyer Program, for program guidelines and requirements.

Basically, qualified low-medium income, first time buyers can purchase a four bedroom home up to $418,600 with as much as $200,000 in down payment assistance or a three bedroom home up to $349,300 with as much as $150,000. The down payment assistance comes in the form of a "silent second" so you make no payments on it.

Not all active properties are eligible for the program because they do not meet the program guidelines for sales price and size. But guess what? This incredible BELWOOD property is eligible.

For more info on this wonderful BELWOOD home, contact Adela Anderson of RE/MAX Olsen & Associates at 818-879-2266 or at adelaanderson@gmail.com

For more info on how you can qualify for down payment assistance to purchase this BELWOOD property, contact me, Donne Knudsen of Cobalt Financial Corp, at 805.5278554 or donne4loana@eaethlink.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 this fantastic property your next home.

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Grace Keng

Keller Williams Realty Cupertino - Cupertino, CA

CRS, CDPE (408) 799-8887

That is a cool program. Thanks for sharing.

Grace Keng, Northern Calif realtor, www.gracekeng.com

Jul 29, 2009 05:43 PM

Robert Havana

Park and Protect- Alberta Real Estate License Parking - Calgary, AB

Alberta Real Estate License Parking

That property really looks like the building from a gas station that I used to work at back in 1986. It had a very similar shape and design to it. I am so shocked to see that much downpayment assistance anywhere. I sure wish we had any sort of program like that up here in Alberta.

Robert May

(Summertime is time to refresh my AR friends and subscribers this week, subscribe to me, add me, and comment on my blog and I will reciprocate them all)

Donne Knudsen

Los Angeles & Ventura Counties in CA - Simi Valley, CA

CalState Realty Services

Grace - This is a great program and one of my favorite to work with. Thx for stopping by; I appreciate it.

Robert - This property is located in the redevelopment area of the city of Simi Valley. Originially, this area was all single family homes with a smattering of commercial and retail locations. Over the years, more and more commercial and retail came in and some of the residential homes began operating small businesses out of their homes.

A couple of years ago, the city slated the area for redevelopment and built a bunch of mixed use properties (retail stores below, living quarters above) and converted the area to commercial with exceptions for the sfr's that still remain that are operating businesses on site. On this same street, there are sfr's that house an independent insurance agent, an independent Realtor, a day care center and an Orkin pest control office.

I don't know what kind of business the previous owner had in this property but the front of the house is set up like a small office environment and the front yard was paved over for parking spaces. This is the perfect set up for someone who wants to operate a small business from their home and since the property falls under the city's exception for residential as well, if the property is purchased by a first time buyer, then they could be eligible for down payment assistance.

Jul 30, 2009 03:17 AM

Jason Sardi

Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC

Your Agent for Life

Donne - Yet another incentive for homebuyers in your particular area. Wish some of these programs would have been in place when I bought my home.

Jul 30, 2009 04:00 AM

Jason - Of all of the down payment assistance programs that I work with, this one is my favorite because not only do they have the most down payment assistance but Simi Valley is my hometown and I love putting clients in my hometown.

Having said that though, it's also one of the most difficult down payment assistant programs I work with to qualify clients for; their guidelines and requirements are more stringent than the other programs I work with. However, for those that do qualify, it's a truly wonderful program. Thx for stopping by; I appreciate it.

Jul 30, 2009 07:42 AM

Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

That seems like a huge amount of DPA. Does just the property have to qualify for the program or is there specific buyer qualifications as well?? Just curious.

Jul 30, 2009 04:39 PM

Tammy - Not only does the property have to qualify but yes, the buyer needs to qualify too. The buyer must be a low-medium income buyer or family depending on family size (there are income limits) and they must be first time buyers. They also must have acceptable credit history, reasonable dti ratios and they must also contribute at least 1.5% of their own funds and attend a home buyer education class.

Jul 30, 2009 05:01 PM

ATTENTION SIMI VALLEY FIRST TIME BUYERS: Fantastic BELWOOD property is eligible for down payment assistance.

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Donne Knudsen

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