Need a Down Payment for Your Dream Home?

California Dream For All Shared Appreciation Loan 

Are you a first-time homebuyer in California? Do you dream to own your own house but can't seem to gather the down payment? Well, you're in luck because California just introduced a new grant that offers 20% of the sales price as a down payment assistance. This is exciting news for anyone who wants to buy their first home, regardless of the sales price. However, there are some income restrictions that apply, and the grant is going to go fast. Dream For All 1^st Time Homebuyer program

 

This grant is an excellent opportunity for first-time homebuyers as it provides them with a significant amount of assistance. The grant offers 20% of the sales price, which means that a home worth $500,000 would receive $100,000 in down payment assistance. This is a tremendous boost for those who find themselves struggling to save up enough money for a down payment. While there is no maximum sales price, the income restrictions do apply. This grant is a fantastic opportunity for those who are looking to own their first home in California.

 

The best thing about this grant is that it is paid back by percentage portion of the equity in the home when it is sold or the home is transferred. This means that the grant is not entirely free, but it does not require upfront payments nor interest charged. The grant is repaid at the end of the mortgage term, which is usually 30 years. This is a significant relief for those who worry about paying a large amount back toward the grant while still paying off their mortgage. This allows first-time homebuyers to focus on paying off their mortgage instead.

 

This grant is going to go fast, so anyone who is interested should act fast! The grant is an incredible opportunity for first-time homebuyers, but it is not expected to last forever. Everyone who is eligible should apply and take the opportunity before it's too late. This grant could be the determining factor for someone who has been saving up but still couldn't afford to put down a payment for a house.

 

Real estate agents should also be aware of this grant and inform their clients about the incredible opportunity that is available. They are in a perfect position to help first-time homebuyers take advantage of this grant. They can guide their clients through the application process and ensure they meet the requirements to receive the grant. Real estate agents play an integral role in assisting first-time homebuyers in realizing their homeownership dream.

 

The down payment assistance grant is a fantastic opportunity for first-time homebuyers in California. It offers them 20% of the sales price as assistance, does not require an upfront payment, and gets paid back at the end of the mortgage term through a percentage of the equity in the home. It is an incredible opportunity for anyone who wants to own their own home but can't seem to gather the down payment. Real estate agents can play an essential role in helping their clients take advantage of this grant before it runs out. So, hurry up and ensure that you're not missing this golden opportunity!

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.