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$15,000 FREE GRANT $$$ for 1st Time Home Buyers - Wow!!! - FHA ONLY

By
Mortgage and Lending with Platinum Mortgage Company & Platinum Realty NMLS 115474

 

The Workforce Initiative Subsidy for Homeownership (WISH) Program


Learn More -  http://www.fhlbsf.com/ci/grant/wish/default.asp

The Workforce Initiative Subsidy for Homeownership (WISH) Program provides matching grants to qualified first-time homebuyers:

  • The household income of the homebuyer at the time of enrollment in the WISH program is 80% or less of the HUD area median income.
  • Participants must complete a homebuyer counseling program.
  • The WISH Program can complement or supplement a variety of state, local, and federal homeownership programs, including CalHFA, NSP, and FHA programs.

 

For Consumers, Learn More: http://www.fhlbsf.com/ci/other/consumerinfo.asp

 

MORE HIGHLIGHTS:

 

}  First time buyer is defined as: Not having owned a primary residence in the past 3 years

}  Funds from WISH may be used for either down payment or closing costs

}  3:1 Match on homebuyer contributions

}  }Maximum contribution: $15,000
Example: Buyer contributes $3,000 to transaction, WISH will contribute $9,000 to use towards down payment or closing costs.
MAX housing expense ratio CANNOT exceed 35%.

}  Non Occupant co-signer income CAN be used in ratio

}  WISH can be used with 3/1 and 5/1 ARM

 

- 640 Minimum FICO Score
- FULL Doc
- No BK, Shortsale, Forclosure in the last 3 Years

- Gift Funds Allowed
- Seller Paid Down Payment Consessions Allowed

Not a real person
San Diego, CA

Happy Hump Day!

Oct 26, 2011 03:41 AM