Need some Down Payment Assistance?

As of this writing, there are various down payment assistance programs available. Various programs are funded by different sources and you do have to be careful as different programs can run out of funding (money) at different times.  Some of the primary sources are local cities and state backed assistance.

Most down payment assistance programs are targeted for first time buyers.  However, some simply stipulate that you can’t own another home at the same time.  Many programs have household  income limitations and some even have geographical restrictions.

I’d like to highlight one assistance program in particular called the CRHMFA Homebuyers Fund, or CHF Fund.  This down payment assistance grant is combined with the FHA program and provides the full down payment required for you.  You do not need to be a first time buyer but cannot own any other real estate at the same time.  This program is available anywhere within California.  There are annual income limitations which are set by county.  San Diego County is $83,145 per year.

Standard closing costs do apply and all loans are subject to a full qualification.  This is a great option if you have been hit with the bad economy and perhaps depleted your savings while getting back on your feet.  These funds are not a loan and do not have to be repaid.

Home financing options are always changing so it best to speak with a lender to get the most recent update on financing options and to review the best options for your particular situation.

If you would like straight forward, comprehensive feedback on the home financing options available, please call Julie Ozanich at 858-369-7510.

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With a mission to provide a higher standard of mortgage lending services, Julie began her career in mortgage banking in 1990.  To date, Julie has successfully closed over $1 billion in mortgage loans and helped over two thousand customers achieve their mortgage goals.  Program availability may differ slightly in different states.  Terms may vary.  Subject to change without notice. Bank of Manhattan is not affiliated with nor endorses The Carmel Valley Life. NMLS# 479603.