California Home Buyer Assistance Programs
The current market correction in housing prices and today’s low interest rates on homes have both served to create a favorable environment for Buyers looking to buy a home in Rancho Cucamonga and the surrounding Inland Empire communities.
As Realtors, The TCR Group believes in the power of affordable home ownership and the stability and strength that it brings to both families and our communities.
We encounter a lot of families thinking about buying a Rancho Cucamonga home, but they need help with their down payment or closing costs.
The State of California offers several options to help new home buyers afford the initial costs for achieving their goals as they pursue their path to the American Dream.
There are several Home Buyer Assistance programs available right now that you can look into taking advantage of. The following represent some of those programs:
California Housing Finance Agency – CalHFA
- Assistance equal to 3% of purchase price of the home
- Can be used for down payment or closing costs
- No payments due – Deferred for life of purchase money loan
- Must be a first time home buyer (some exceptions)
- Income limits based on County and number in household
- Purchase price limits are based on each County
$3,000 Homebuyer Assistance Credit
- Minimum purchase price $200,000
- No first time buyer requirement
- No purchase price limits
- No income limits
Many California Cities and Counties have Buyer Assistance programs available from time to time, but they are often limited to availability of funds and very specific qualifying guidelines. Contact Us Today! We have excellent lenders that will research and present you with your available options.
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