ATTENTION FIRST-TIME HOMEBUYERS!
As interest rates begin to slide down, more and more people are exploring the dream of homeownership. If you haven’t owned a home in the past three years, you may qualify as a first-time homebuyer — and there are great programs available to help you get started.
Many first-time buyers, including young professionals in the high-tech industry or dual-income couples, face one major challenge: coming up with the down payment. The good news is that there are several down payment assistance programs available.
One such program is CalHFA (California Housing Finance Agency), which offers a first mortgage, plus a second loan and even a third loan to help cover closing costs.
Key highlights:
- Income limits apply— for example, in San Francisco, the limit is around $325,000.
- Some programs have 1% deferred interest, while others may offer forgivable loans.
- The goal is to make homeownership more accessible — but remember, the more you borrow, the higher your monthly payments may be.
If you’d like to explore which option best fits your needs and financial situation, I’d be happy to help.
I also invite you to click this link to watch my weekly video and share it with your colleagues, partners and friends who can benefit from my professional mortgage solutions.
Best wishes,
Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983
NMLS #205637
DRE #00874630