ATTENTION SIMI VALLEY FIRST TIME BUYERS: Down Payment Assistance Available for SIMI VALLEY Pool Home
Attention all of you first time buyers out there that want to stop paying your landlords rent. This is a fabulous program for families that want to get out of the apartment life and get their first home. Read carefully you won't believe it.
You can call Donne or myself and we will be happy to explain everything about the program.
Right now, there are dozens of 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 like this property.
This newly-remodeled 4bd/2ba SIMI PARK pool home offers more than 1,200 sq. ft. of living space on a more than 8000 sq. ft. lot. This wonderful home features new kitchen cabinets, appliances and granite counters. The home has been freshly painted inside and out and has double pane windows with recessed lighting. There's a newer roof and new landscaping as well as a sparkling pool and spa.
But, there's more too. This SIMI PARK home is just minutes away from Rancho Simi Community Park and Pool as well as Berylwood Park and Citrus Park. This wonderful home is also just minutes away from the Arroyo bike trails.
The best thing about these homes are that they both qualify for the City of Simi Valley First-Time Home Buyer Assistance Program. Right now, homeownership affordability here in Simi Valley as well as Ventura county is the best it has been in years, maybe even decades.
For less than $1,500 a month (PITI), you could own this wonderful home. In this neighborhood, the rents for a home like this would run around $2,000 a month.
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 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 about this fantastic property, contact Chris Smith at 818.4341672 or www.housesbychris.com. For more info on how you can qualify for down payment assistance to purchase this home, contact me, Donne Knudsen of Cobalt Financial Corp, at 805.2069123 or donne4loans@earthlink.net.
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.
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Donne Knudsen
Mortgage Loan Originator - Cobalt Financial Corp.
NMLS# 249822 / DRE# 01364050
805.2069123
E-mail My Blog
Serving low-medium income individuals and families as well as first time buyers with their mortgage needs including down payment assistance
Los Angeles County -- Ventura County
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