As a first-time homebuyer, you're searching for homes strictly within your budget, likely even calculating the downpayment and closing costs down to the penny to make sure you can afford the purchase. In the Silicon Valley's real estate market, even a 10% downpayment is a chunk of your savings and piling on closing costs can sometimes leave very little behind in your bank account. For some, that could mean finances are a little tight the first couple months of being homeowners... those fancy kobe beef steaks from Alexander's Steakhouse celebrating your new home will probably have to wait!
What if I told you that you can have the first six months of your HOA dues (up to $2,500) covered for FREE?
Wait, for FREE? Yup, you read that right. California's Housing Affordability Fund just rolled out a new program that would pay up to 6-months of the HOA dues for first-time homebuyers who qualify in the program. Well, you must be wondering if it will be tough to qualify, right? You'd be surprised...
● Purchase (or plan to purchase) a home in the State of California
● Be a First Time Homebuyer
● Be represented by a California REALTOR®
● Purchase using a loan
● The purchase price cannot exceed 150% of the program's mortgage limit
● You must intend to occupy the home as your primary residence for at least two (2) years
So...What's The Catch?
There is none! Seriously. You just need to be sure to have a savvy Realtor (me!) get you into the program at the right time. Housing affordability in California is challenging enough, so I work hard to get my clients into this program to help offset some of their initial costs. Unlike many Realtors, I strive to stay at the forefront of these programs to pass on whatever savings I can to my clients.
Keep in mind, spots in this program are first-come, first-served so even if you're still shopping for a home, you want to sign up as soon as possible.
Awesome! I'm in the market for a home!
How do I sign up?
No commitments or obligations.
Selling your home? We can offer this program to your potential buyers to incentivize them as well as help with affordability!
What do you think of this program? Questions? Leave them in the comments below!