Home Buying in 90620>Question Details

Nickoli, Home Buyer in 90620

I would like to puchase a home in La Mirada, i would also like to know if i qualify for a downpament assistance, my combined income 87k do i qualify

Asked by Nickoli, 90620 Thu Feb 18, 2010

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Glenn Gaspar’s answer
Hi Nickoli,

To answer your question...Yes, there is a program which, if you qualify, allows you to buy a home with only .5% down!!! In addition to this you can ask the seller to pay up to 6% of the sales price towards your closing cost. Now this 6% stands as of today (02/19/2010), but may change to 3% only with in the next few months.

This program is really a FHA loan so there are no income limits. This program is only available here in California.

Here is the link to the lender's page where you can apply:
https://9614834498.secure-loancenter.com/WebApp/FullAppLogin.aspx

My main contact there has been Bill Gately with
0 votes Thank Flag Link Fri Feb 19, 2010
Hi Nickoli,
I found this page for you from La Mirada's Website: http://www.cityoflamirada.org/index.aspx?page=46

Please read it and contact the city for more information. Sometimes they run out of funds due to the high number of applicants. Once you find out if the city still has money then you will need to work with a lender that understands the program and usually the city has a list of preferred lenders that they work with.

I hope this helps! Have a great day and I wish you the best of luck as you buy a home this year.
Aaron Zapata
Prudential CA Realty
Ranked Top 3% Nationwide
Web Reference: http://aaronzapatablog.com
0 votes Thank Flag Link Fri Feb 19, 2010
Nickoli, here is a pretty good list of the assistance programs out there: http://socaloceanviews.com/professional11.shtml . Maybe there is one for you?
0 votes Thank Flag Link Thu Feb 18, 2010
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