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Donne Knudsen's Blog

By Donne Knudsen | Mortgage Broker
or Lender in Simi Valley, CA


Right now, there are dozens of properties in Simi Valley that are eligible for down payment assistance (dpa).  Many of these properties are not REO's or short sales but actual equity sales with really motivated sellers and are NOT like all the other run-down, dilapidated dumps you've been seeing, like these two Valley West homes.


This 4bd/2.5ba home with a bonus room with more than 1,700 sq. ft. of living space on a more than 6,000 sq. ft lot is an absolute MUST SEE HOME.  This lovely remodeled home has new kitchen cabinets and new appliances. 

There are also all new Pella windows and new doors.  there is new flooring (tile/carpet) throughout and freshly painted (interior/exterior).  The bathrooms are brand new with granite counters and new vanities.

The outside patio has new tile flooring extending the length of the house.  The yards also have new landscaping front and back.



Then there is this great 4bd/ba home that also has nearly 1,700 sq. ft. of living space on nearly 7,000 sq. ft. with some fantastic views. 

Situated on a wide, dead-end street that's close to open space and trails, this well-maintained home features dual-pane windows, new heat/air (incl.ducts!) and is freshly painted.

The upgraded kitchen has granite counters, new cabinets with roll-out drawers, new cooktop, chef's double-deep sink and bar. 

Pristine backyard with covered patio and your own private mountain views. The baths have also been remodeled with new flooring, tile and vanities and fixtures. 

Both homes are move-in ready with highly motivated sellers.  Neither one of these homes are like the run-down, dilapidated, dumpy short sales or REO's that you have been seeing.  Both of these homes are located in a quiet residential neighborhood and are in close proximity to both Rancho Simi Community Park and the Arroyo bike trails.



The best thing about these homes are that they both qualify for the City of Simi Valley First-Time Home Buyer Assistance Program.  Right now, homeownership affordability here in Simi Valley as well as Ventura county is the best it has been in years, maybe even decades. 

For approx $1,400 a month (PITI), you could own one of these wonderful homes.  In this neighborhood, the rents for these homes are running up to $2,300 a month. 

This program is specifically geared for the low-medium income first-time homebuyers who wish to purchase their first home in Simi Valley.  I like this program because the Simi Valley city administrators for this program are not only the easiest ones to reach but they are also some of the friendliest ones to talk to and deal with. 

The property may be a detached or an attached single-family home, a condominium, or a town house.  The program is available to those who have not owned a home in the last three years.  Single parents who owned a home while married and displaced homemakers may qualify even if they owned a home in the previous three years. 

  • Program eligibility will be based on total household income, a housing cost ratio not to exceed 35%, and a debt-to-income ratio not to exceed 45%.
  • The primary loan must be a fully amortized loan.  No interest only loans for the first trust deed.
  • Buyers must occupy the unit as their primary residence.
  • A portion of the proposed $50,000 per bedroom subsidy may be used for necessary repairs to bring the property into compliance with the City's Housing Quality Standards (HQS). 

The maximum home price and City subsidy limits appear below: 

# Bedrooms

Maximum Market Purchase Price

Per Bedroom Subsidy Limits

Maximum Affordable Sales Price

















Today's real estate market can be really scary, which is why it's important to get as much information as possible before starting your search.  The pre-approval process is not a simple process and it's because it can get really complicated and convoluted, that borrowers today need affordable loan options that are best suited for their own needs. 

If you have any questions and/or concerns, please feel free to contact me, Donne Knudsen, at 805.2069123 or donne4loans@earthlink.net.  That's what I'm here for and I would love to be able to assist you in your search for an affordable home loan.

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