First-Time-Home-Buyer(s): Free Assistance $$$$ for First Time Buyers!!!!

Disclosure - we are not Legal Lenders, and we are not Quoting Exact Wording but only offering a general Guideliness to help you understand "that you are not alone" I am here to help you Achieve what most of us want: A Home of Our Own!!! Qualification Very and Change Time to Time that it is why it critical for you to Reach out to me Today and Sit down to Discuss "who you are" and introduce you to my BEST TOP Community Licensed Lenders: PREQUALIFY FOR NO PAYMENT DOWN PAYMENT ASSISTANCE PROGRAMS BEFORE THEY RUN OUT OF $$$

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Program Features Preferred Realtor

deferred payment loan secured by a deed of trust
assistance is calculated at 20 percent of the purchase price to a maximum of $40,000
“Limited” CalHome assistance – when used in conjunction with special sales programs, the assistance is limited to 10 percent of the purchase price to a maximum of $20,000
3% simple interest – principal and interest are deferred for the term of the loan
30 year loan term (equal to the term of the first mortgage)
loan is due upon sale or transfer of property, when the property ceases to be owner-occupied, or upon the loan maturity date – the loan is not assumable; refinancing may be allowed subject to Agency subordination policy
funds may be used for down payment and mortgage assistance
first mortgage must be a 30 year loan and may be a fixed rate or an adjustable rate mortgage; however, the first mortgage loan shall not include provisions for negative amortization, principal increases, balloon payments, or deferred interest
first mortgage may be FHA, conventional, or CalHFA financing.
first mortgage must have an impound account for the payment of taxes, assessments and hazard insurance for the entire 30-year term.

Eligible Applicants

Homebuyers who

meet CalHome underwriting guidelines for credit
will have a monthly housing debt ratio of not less than 28% and not more than 38%
are first-time homebuyers (have not owned a home within the preceding three years, or meet the definition of a displaced homemaker or a single parent)
are able to qualify for a loan to purchase the home
attend homebuyer education classes
will live in the home being purchased
are defined as low-income – households with income less than or equal to eighty percent (80%) of the area median income adjusted for household size. Income also includes income from assets over $5,000 calculated at 2% of the value of the asset. Current income limits are: