Have you been dreaming of buying a home in California? Is the lack of a down payment holding you back? If so, you may be able to qualify for a down payment assistance program in the state of California. This gift program is through The Lending Company of California and uses FHA mortgages to get people into the home of their dreams.
For many people, the biggest difficulty in buying a home is the lack of down payment money. Seller-funded down payment assistance programs have helped up to 25% of home buyers get into a house. Without those programs, a large percentage of potential buyers could not get into a home.
Today, for as little as 1% down, you may be able to buy a home with a FHA mortgage in California. The America’s Home Buyer Solution Gift Program can help you with down payment and closing costs. This Gift Program is offered exclusively through The Lending Company, a direct endorsed U.S. Housing and Urban Development (HUD) lender.
For families and individuals wanting to get quality housing for as little as 1% down, this program is ideal. Even better, your portion of the down payment can be a gift from a family member. The America’s Home Buyer Solution Gift Program is not a seller-funded program. Rather, the funds come from HUD-approved non-profit charities.
The America’s Home Buyer Solution Gift Program can provide up to 2.5% of down payment and closing costs on a FHA first mortgage.
The buyer’s cost could be as low as 1%.
You are under no obligation to repay money from the Gift Program.
Interest rates are competitive.
Loan guidelines are flexible.
The Gift Program is not limited to first-time home buyers.
The seller is encouraged to contribute up to 3% towards closing costs and other prepaid items.
The Gift Program is not limited to foreclosures or vacant properties.
Homes or condos must be 1 to 4 families, HUD approved, and owner occupied.
The Gift Program will not run out of funding like city and state stimulus programs.
More on eligibility requirements
The program uses FHA 30 year fixed mortgages.
There are no pre-payment penalties.
Borrowers must have a minimum 620 credit score.
Income limitations may apply. Check with the loan officer for more information.
Non-occupant co-borrowers are allowed.
For more information about the America’s Home Buyer Solution Gift Program, please fill out the form below: