REAL ESTATE AGENCY
HUD Programs: HUD regulates the two housing government-sponsored enterprises (GSEs), which are the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Company (Freddie Mac), each being chartered by Congress to create a secondary market for residential mortgage loans. These GSEs are the largest source of housing finance in the United States
In October 2000, HUD published a new final rule which significantly increased the percentage of business the GSEs are required to devote to specific affordable housing goals. These goals are:
Homebuyer Assistance Programs: Down payment assistance for low to moderate income buyers. No requirement to be a first time home buyer. Thousands of people each year dream of becoming homeowners. Let us help that dream become reality. • Down Payment Assistance (DPA) is sized up to 20% of the First Mortgage. • DPA is available with purchase or refinance of a primary residence. • DPA can be used towards down payment and/or closing costs. • Program is NOT limited to first-time homebuyers. • FHA, VA, USDA and Conventional Mortgage Loan Types available. • Minimum FICO 640. | • Maximum DTI 50%. • Income Limits are higher than one might think (low-to-moderate income).
First Time Home Buyer Program: (Applies to Anyone who has not had home ownership in the last 3 years) Why rent when you can own your home and have pride of ownership: The last couple of years we have seen the rents increasing in all areas of California. In almost all cases, you can purchase the home you want and the monthly payment will be less than rent on a comparable property. Get more information
For more information on any of the above programs or any other of our Real Estate Services
Contact Pilar Tobias at PTobias@TobiasRealty.net or 209-874-6762
California BRE# 01210970
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All information is subject to change & should be independently verified