First time home buyer programs Moreno Valley Ca
For the past three years there have been many First Time Home Buyer Programs come and go. But one has resulted for both the State providing the assistance and the buyer purchasing the Home. Maybe you have seen these signs for "buying a house for less than $1500 down". Many thought the program was too good to be true. As a result many of those missed the opportunity to become homeowners when the market was low.
The ZERO DOWN Program
Currently the State of California has rolled out a 100% Financing program. and a 105% financing Program for First Time Buyer or Repeat Buyers that have not owned a home in the last 4 years. The graph below shows a comparaission of how funds are used the CHDAP ( less than $1500 Down) and the new 105% financing Program.
CHDAP Program -$1500 $105% financing
Many People will still believe that this program is still too good to be true. With all of these programs the catch is that these are public funds and many of them the money is givin to the buyers in the form of a loan. Some of these are zero interest loans and other are differred for the life of the loan or unti you pay it off. If you have any questions please call out financing Department at (951) 833-3447