Los Angeles First Time Home Buyer Program
Los Angeles First Time Home Buyer Program is changing the way California homebuyers get into home. These programs are total game changers for California renters living in CA.
Warning: Los Angeles First Time Home Buyer Program – The traditional 20% down is not the only option when it comes to buying a California home. We have access to 85% first mortgage and a 15% second mortgage which gives you 100% financing. This program is called the NADA program. All you need is a 580 fico score. This is a FHA loan product and however the 15% second is a conventional loan and it is paid back in 10 years.
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Los Angeles First Time Home Buyer Program, another program we have is called the CalPlus Program by CalHFA. This allows you to have ALL your down payment covered. The CalPLUS Conventional program is a conventional first mortgage loan with a bit higher 30 year fixed interest rate than the standard conforming conventional program.
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Plus it’s combined with the CalHFA Zero Interest Program (ZIP) for closing costs.
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Although this is down payment assistance, on this program you must pay back when you either sell your home, refinance your property or 30 years… whichever comes first. This is a great loan to get into a home with very low out of pocket expense.
Los Angeles First Time Home Buyer Program Closing Cost
With CalPlus you would need to bring in your closing cost. Setting up your escrow account so that you can have your taxes and insurance come out automatically. This is a combination of typically, 5 months of insurance and 3 months of insurance in additon to the cost of doing the loan. This is what your closing cost is consist of.
Los Angeles First Time Home Buyer Programs Call The Whigham Group at 800-807-5022 and ask for Jason Whigham
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Take our 1 minute Los Angeles First Time Home Buyer Program Survey to find out your down payment assitance options and save on your next home purchase. https://my-downpaymentassistance.com/