Right now, there are more than 40 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. Many of these properties are not REO's or short sales but actual equity sales with really motivated sellers and are NOT like all the other run-down, dilapidated dumps you've been seeing. Many have been remodeled and/or upgraded like this property.
Situated in a highly desirable neighborhood, this home offers more than 1600 sq. ft. with bd/2.5 ba. Open floor plan with high vaulted ceilings. New stainless steel appliances and a breakfast nook for in kitchen dining. Property also features gated RV access and large backyard with a carpeted sunroom for additional living space. This wonderful home is move in ready!
Lovely 4bd/2ba pool home has been beautifully maintained and is move-in ready. Kitchen features Corian countertops and new cabinets with gorgeous hardwood floors. The sparkling pool is the best feature with a wonderful slide for the kids.
Beautiful Pool Home that features enclosed patio for entertaining. Large backyard with plenty of room and a BBQ and fire pit and very private with only neighbors on one side. Kitchen has new stainless steel appliances and there's a new roof (with certificate) too. Seller is also offering $5000 towards buyers closing costs
The best thing about these homes is that they all qualify for the City of Simi Valley First-Time Home Buyer Assistance Program. This program is specifically geared for the low-medium income first-time homebuyers who wish to purchase their first home in Simi Valley.
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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