First Time Homebuyer HELP!! CHAFA Loan.

Did you know that you may qualify for down payment and closing cost assistance?

1. $15,000 for down payment(Not available in Riverside County)
2. Plus 3% for closing costs

These funds do not need to be repaid until the borrower sells or refinances.

What are the requirements?

1. First time homebuyer (has not owned a home for the last 3 years).
2. Falls within low or moderate income guidelines. San Diego County: Max income for a family of 2 persons is $82,200. Max income in Riverside for a family of 2 persons is: $66,840.
3. Purchase price falls within guidelines. San Diego County: Max resale purchase price: $535,446. Riverside County: $494,401.

How does a Borrower Qualify?

3 Year's tax returns required
30 year fixed Moderate Income: 5.375%
30 year fixed Low Income: 5.125%
5 year Interest only Arm: 5.875%
45% Debt Ratio
620 Fico or higher
Must have 2 months of reserves in the bank

Call Karl 858/602-6025 for more information.