Oxnard is one of the best beach communities in Ventura County. Much of Oxnard is just minutes from some of the counties best beaches as well as the shopping and entertainment destinations of Channel Islands.
Right now, there are dozens of properties in Oxnard that are eligible for up to $30,000 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 wonderful 3bd/2ba OXNARD ESTATES home offers nearly 1,700 sq. ft. of living space on a more than 6,000 sq. ft. lot. This completely renovated, move in ready home is practically all new and includes all new landscaping, flooring throughout, kitchen cabinets, appliances and counters.
But, there's more too. This OXNARD ESTATES home is just minutes away from Hollywood Beach, Oxnard Shores and Silver Strand as well as shopping and entertainment and the CBC Naval Base.
Rent for a property would run at least $2,000 a month but for less than $1,900 a month (PITI), you could buy this wonderful home.
The best part though about buying a home here in Oxnard is that first time buyers can get up to $30,000 in down payment assistance (dpa) to purchase a home here. The City of Oxnard Affordable Housing & Rehabilitation Division has an assistance program for the purchase of a home that meets HUD conventional guidelines. The loan provides a 3 to 1 match of the homebuyer’s contribution.
The loan is what we call a “silent second”, which means you make no payments on the loan. However, if you sell or refinance the property before the end of the term of the loan, you will need to pay back the loan (plus interest). The term of the loan is determined by the amount of the loan.
The program is available to those who have not owned a home in the last three years. All applicants must be current residents of Oxnard and legal residents of the U.S. Program eligibility will be based on total household income. Housing costs include principal and interest, property taxes and insurance, private mortgage insurance and homeowner association dues, if any.
Buyers must occupy the unit as their primary residence. Buyers must attend a home buying workshop and they must open escrow within 90 days. Lastly, the property will be inspected by city inspectors and the property must meet minimum building code standards.
Below are the income limits for the program:
Right now, there are dozens of homes that are eligible for this program. All of these homes are currently active listings and many don't have a gazillion offers on them and many are not REO's or short sales but actual equity sales where you're not dealing with some horrendous bank but a real live motivated seller.
Buying a home is one of the most important decisions someone can make. 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.
For more info on how you can qualify for this program, contact me, Donne Knudsen of C2 Financial Corp, at 805.2069123 or donne4loans@earthlink.net.
Photos courtesy of flickr: kenlund usnavymailmans cityofoxnard
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