If you are considering buying your first home, you may be able to do so with only a ½% down payment!
FHA requires a 3.5% investment of your own funds when using FHA financing for a home purchase. But, beginning March 1, 2012, the California Homebuyer's Downpayment Assistance Program (CHDAP) is offering downpayment assistance of up to 3% of the purchase price or appraised value, whichever is lower. That means you would only need ½% of your own funds to purchase a home!
Are you eligible for 100% financing through VA? Searching for properties in an area eligible for 100% USDA financing? You can use the CHDAP program for closing costs, too!
As with all loan products, the CHDAP program has guidelines. Give me a call at (916) 849-9200 to see if you qualify!
With home prices and interest rates at record lows, this dowpayment assistance program adds one more reason why now is a great time to buy a home!
For more information on CHDAP, FHA, VA, Conventional, Jumbo and USDA loans on properties anywhere in California, give me a call at (916) 849-9200!