In today’s market is the American Dream of home ownership still alive? With a challenging economy one must ask themselves, what does the American Dream mean to me today and how can I achieve it? Where can I get it? You might not be able to tell these days with all the bad news about the housing market, but it’s still an incredible feeling to own your own home. It’s still worthwhile and it’s still the American Dream. Don’t lose hope. The American Dream is still alive!
I am always looking for ways to help first time home buyers attain their dream of homeownership. As a member and contributor of Pacific West Association of Realtors Charity Foundation I am pleased to announce their “Opening Doors” First-Time Buyers Down Payment Assistance Program. Qualified buyers are eligible to receive up to $7500 in down payment assistance towards the purchase of their first home.
The program’s objectives are to…
• Help “challenged but worthy” first-time buyers
• Educate buyers about the financial obligations of holding a mortgage, thus making the dream of home ownership a reality for families in North OC and South LA counties
Qualifications…
• Maximum income levels (1-2 buyers) $111,480 for OC & $99,360 for LA
• Maximum purchase prices is $637,645 for OC and LA Counties
• Buyer must contribute 1% of the sales price towards the down payment
• Buyer may not have owned any residence within the past 3 years
• Minimum credit score of 620
• Pre-approval from a direct lender, not a broker
• Minimum five-year fixed-rate loan, full documentation (no stated income)
• Applicants must be represented by a PWR REALTOR® member
• Property must be located within PWR’s jurisdiction
• Short-sales must have written bank approval.
The Opening Doors program is available to any qualified buyer who purchases a property located in PWR’s jurisdiction, which represents 26 cities in Central/North OC and the Southeast LA County.
Including:
Anaheim/Anaheim Hills, Brea, Buena Park, Cypress, Fullerton, Garden Grove, La Habra/La Habra Heights, La Mirada, La Palma, Lakewood, Long Beach, Los Alamitos, Norwalk, Orange, Pico Rivera, Placentia, Rossmoor, Santa Ana, Seal Beach, Signal Hill, Stanton, Tustin, Villa Park, Westminster, Whittier, and Yorba Linda.
Other qualifications apply. Contact me today for more information on this or other down payment assistance information!
