On March 27th President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (HR 748) into law. The CARES Act provides mortgage forbearance relief to homeowners that have a federally backed mortgage who’ve been impacted by the COVID-19 pandemic. Skipping mortgage payments due to the COVID-19 Cornavirus national pandemic is a big decision, […]
The California Firefighter Down Payment Assistance (CFDPA) program provides homebuyer assistance to eligible Firefighters and all fire department employees of the State, Federal, Local, or a Tribal fire department in California. California’s Firefighter Down Payment Assistance (CFDPA) loan program provides from 3% to 3.5% of assistance in the form of a silent second home loan […]
The Chenoa Fund downpayment assistance loan program offers 100% affordable financing for buyers who can meet basic minimum credit requirements and lack sufficient funds for a down payment. The Chenoa Fund homebuyer assistance program offers two unique down payment assistance programs, the Chenoa Fund FHA Advantage and Chenoa Fund Conventional Advantage, to meet the needs […]
CalHFA announced the new School Teacher and Employee Assistance Program (STEAP) to aid in the purchase of a home in California. Eligible homebuyers who qualify for down payment assistance must be first time homebuyers employed at any K-12 California public or charter school, school district offices, and county or continuation schools. STEAP is available to […]
2018 Conforming Loan Limit in Riverside County Conforming Conventional loan limits refers to loans secured and underwritten to the FHFA or Fannie Mae/Freddie Mac guidelines and standards. The term ‘Conforming’ is often used to refer to Conventional financing. This means if your loan amount exceeds $453,100, it will not ‘conform’ to Fannie/Freddie guidelines and require 1 of 2 […]
The Community Home Advantage Program (CHAP) is a community based homebuyer assistance program designed to expand the availability of credit and promote fair and affordable lending to homeowners and homebuyers purchasing a home in targeted communities, cities and zip codes within California. The CHAP Community Home Advantage Program provides a .50% to 1.00% discount to the […]
For homebuyers or homeowners with student loan debt in an Income Based Repayment (IBR) plan planning to purchase or refinance a home, it’s important to know that the type of mortgage you apply and the type of repayment plan your student loans are set up on can impact qualifying for a mortgage. For example, the […]
