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Home Buyer GrantsImportant Information Update Regarding Non-Profit Down Payment Assistance Programs On July 30, 2008, the Federal Government passed H.R. 3221 - Housing and Economic Recovery Act of 2008. Section 2113 of the bill prohibits seller-funded DPA (Down Payment Assistance) for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes are effective October 1, 2008. This bill is means the Elimination of Non Profit Down Payment Assistance. Only Government funded housing grants are available for Down Payment Assistance under the American Dream Down Payment Assistance Act. Follow the link for the housing program in your area. Besides the state programs, there are federal funds and grants available to would be home buyers through the Homes and Communities program of the United States Department of Housing and Urban Development. Almost all of the down payment assistance programs, tax credits and housing grants must run under an FHA loan. Getting pre-qualified for an FHA loan is the best place to start before searching for the right DPA program. Plus, with the Federal Government passing H.R. 3221 - an FHA loan is going to be the only loan available that will offer a homebuyer the opportunity to purchase their home with little or no down payment. If you are a first time home buyer, you should investigate the Federal Housing Tax Credit, where first time home buyers receive a $7500 Credit for their down payment assistance. You can visit the website by going here: FHTC. However, it will also require you to be approved for an FHA loan.
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There are currently no Announcements.
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Crestline, Lake Arrowhead, Running Springs, and Big Bear
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Hello I’m Nannette Anders I am a real estate professional with over 16 years of experience as a resident in the San Bernardino mountain community. I am a knowledgeable professional, committed, truthful, and honest, I pride myself with attention to detail and listen to my clients to understand their needs. I am a Realtor, problem solver, and negotiator. My skills with lenders, inspectors, brokers, escrow officers, and all the other parties involved in a real estate transactions are an asset to my clients. My experience in contract negotiation, coordination of financing, move and relocation assistance, and short sales are skills that my clients expect. I stay informed on market changes, the latest news, trends and technology in our industry. In addition to residential real estate in Crestline, Lake Gregory, twin peaks, Blue jay, Lake Arrowhead, Running Springs, Big Bear, and all surrounding mountain areas I specialize in resort properties, lakefront and lakeside homes, Understanding our mountain community marketplace and providing the kind of service that lasts a lifetime is my goal with every client. With each customer I represent, a relationship is created based on trust and reliability. A relationship which should be cultivated and treated as a long-term partnership, not just a one time transaction. Your Mountain Realtor Nannette Anders
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Mortgage Protection Program
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On Thursday, April 2, 2009 the Housing Affordability Fund has launched a new program designed to provide peace of mind to first-time buyers who are hesitant to enter the housing market due to concerns about potential job loss, and subsequently being unable to meet their monthly mortgage obligations. To qualify for the Mortgage Protection Program,
Applicants must:
.· Be a first-time home buyer – someone who has not owned
a home in the last three years.
· Open escrow April 2, 2009, or later, and close on or before
Dec. 31, 2009
· Use a California REALTOR® in the transaction
· Purchase the property in California
· Be a W-2 employee (cannot be self-employed)
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This form must be submitted by an active California
REALTOR® to apply.
For examples on how the program works Click Here.
For a list of Frequently Asked Questions Click Here To view our lates News Release on the Mortgage
Protection ProgramClick here For a application call (909) 273-8115 |
There are currently no Announcements.
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