From the category archives:

Mortgage Assistance

Slide Show: A Complete Guide to CalHFA First Time Homebuyer Programs – Cal30 & CHDAP

The California Housing Finance Agency recently introduced two new first time homebuyer programs.
The Cal30 is a fixed rate, low cost loan program, CHDAP is a 3% down payment assistance or closing cost assistance loan program.
These are the slides from the online webinar, please feel free to contact us for questions or more information
A Complete Guide [...]

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Riverside County Economic Developement Agency (EDA) Mortgage Credit Certificates ( MCC )

by Scott Schang November 10, 2009 First Time Buyer Loans

PROGRAM SUMMARY
A Mortgage Credit Certificate (MCC) entitles qualified home buyers to reduce the amount of their federal income tax liability by an amount equal to a portion of the interest paid during the year on a home mortgage. This tax credit allows the buyer to qualify more easily for a loan by increasing the effective [...]

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City of Anaheim – HOME Federal Down Payment Assistance Program

by Scott Schang November 10, 2009 Down Payment Help

Program Summary
Federally funded payment assistance program
Program Details
Eligible Buyers: Assistance offered to households who do not currently own a home
Purchase Price Limits: $280,749
Down Payment Assistance: Up to $50,000
Interest Rate: 3% simple interest
Income Limits: 80% of Area Median Income

Household Size
Income

1
$39,500 or less

2
$45,200

3
$50,850

4
$56,500

5
$61,000

6
$65,550

7
$70,050

8
$74,600

Payments: No monthly payments due. Loan due when 1st mortgage is refinanced or home is [...]

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City of Orange – First Time Home Buyer Down Payment Assistance Program

by Scott Schang November 10, 2009 Down Payment Help

First Time Homebuyer Program
The First Time Homebuyer Program is currently being revised. Please call 714-288-2580 to be placed on the waiting list

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City of Orange – Mortgage Credit Certificate (MCC)

by Scott Schang November 10, 2009 First Time Buyer Loans

Mortgage Credit Certificate Program Fact Sheet

The Mortgage Credit Certificate (MCC) Program enables first-time homebuyers to receive a federal income tax credit of 15% of the annual mortgage interest paid.
MCC’s reduce federal income tax, increase take-home pay, and increase the qualifying loan amount for homebuyers.
Program assistance is available only to income-eligible persons and families who have [...]

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Neighborhood Housing Services of the Inland Empire (NHSIE) – CalHOME Mortgage Assistance Program

by Scott Schang November 10, 2009 Down Payment Help

Program Summary
First Time Home Buyer Down Payment Assistance is available for First Time Home Buyers within the Counties of San Bernardino and Riverside

Program Details
Eligible Buyers: First Time Home Buyers – Can not have owned a home in past 3 years
Maximum Assistance: Up to $25,000
Interest Rate: 3% Simple Interest Loan
Income Limits: 80% of Area Median Income [...]

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City of Downey First Time Home Buyer Program – Housing Assistance Program (HAP)

by Scott Schang November 10, 2009 Down Payment Help

Program Summary
The City of Downey’s Homebuyer Assistance Program (HAP) has been developed to provide first time homebuyers with the financial assistance necessary for homeownership. The HAP loan is in the form of a deferred payment second mortgage. The HAP Program is designed to assist qualified households with the down payment and closing costs for the [...]

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County of Orange Mortgage Assistance Program (MAP)

by Scott Schang November 10, 2009 Down Payment Help

Program Summary
Silent second mortgage loan program for low-income first-time homebuyers; principal and interest payments deferred for term of loan due in 30th year or upon sale or transfer of property, when property ceases to become owner-occupied, or upon repayment or refinancing of first mortgage, whichever comes first.

Program Details
Eligible Buyers:
All buyers on title must [...]

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City of San Francisco – Teacher Next Door Program (TND)

by Scott Schang November 10, 2009 Mortgage Assistance

Program Overview
The Teacher Next Door Loan Program provides Downpayment Assistance loans to credentialed Teachers employed by the San Francisco Unified School District. The loans are forgivable according to the years of service the teacher remains in the school district.
Borrower Eligibility:
To be eligible for a TND loan, a borrower must be a credentialed teacher currently employed [...]

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City of San Mateo Down Payment Assistance Program

by Scott Schang November 9, 2009 Down Payment Help

First-Time Home Buyer Program – Posted on the City of San Mateo website

// We sponsor a variety of loan programs to help families with different incomes and housing needs become homeowners. There are programs to help you purchase single-family homes, condominiums, and townhouses at several locations within the City limits of San Mateo. The City [...]