Down Payment Programs in Los Angeles County, Orange County
Buyer Down Payment Assistance and Loan Programs
FHA Loans for Fixer Properties
Did you know that the foreclosure/bank-owned property (REO) market and inventory is constantly changing? There are several reasons for this, but basically, it may be the buyer's opportunity to get a very good deal on the right property under conditions acceptable to the seller. Many bank-owned properties may not meet a conventional loan requirement because of its condition, but if you're not a cash buyer, using the right loan program could be the key.
Did you know that the FHA 203(k) Residential Rehab Loan may offer financing in conjunction with several types of buyer program (but not all) and is a great way to gain up front financing to remodel or repair the home of your choice. If you find a fixer property in an area you would like, but the house needs work, this loan is a way to accomplish those repairs within your overall mortgage qualification, so that you're not paying for repairs out-of-pocket, but amortizing them over time. Repairs may include flooring, fencing, roofing, windows, foundation, appliances, heating, A/C and termite. These loans have specific structuring and time requirements--call me to find an experienced lender for this loan.
Fannie Mae HomePath
Freddie Mac Home Possible
PLEASE CONTACT ME AT JULIA@JULIAHUNTSMAN.COM FOR A LIST OF HOMES THAT ARE ELIGIBLE FOR THESE PROGRAMS. NOT ALL SUCH HOMES MAY NECESSARILY BE FOUND THROUGH THE MLS. I CAN ALSO HELP POINT YOU TO THE RIGHT AREAS THAT APPLY TO THESE PROGRAMS.