The NSProgram is rather onerous to describe, but with respect to the Palmdale program, my buyer was the first buyer to complete the program in 2011.
The Palmdale program is a down payment assistance plan, allowing a buyer who may qualify for $100k to actually qualify w/the City's downpayment program for a home as high as $160k.
Each of the city programs require the buyer to actually live in the purchased home, for a specific lenght of time, and if they sell, they require the new buyer to be an owner occupant as well.
The city of Lancaster program is different ... all homes do qualify for FHA financing, meaning a 3 1/2% downpayment and some closing costs.
I'd be happy to assist you in your home search, if your ready to move forward.
Tamara Stoebe, REALTOR/Notary
GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Fax (661) 422-3006
There is a lot to discuss about the program, as I have represented a buyer before who purchased one of these homes. When I was younger I participated in a similar program and that is where I learned plenty about these types of programs. It is still a normal transaction with some added requirements and CCR's, as the buyer has to qualify for the program, lending and still have money for some closing costs, inspections and any other items as needed. There are pros and cons and more program information you need to know about, of which they will disclose in the documentation provided. I feel it would inform you faster about the program and benefit you to verbally discuss it with myself or any other agent that can assist you concerning this program, as pages can be written on this topic.
Beat of luck,
TV-Tracy Van De Mark
Keller Williams Realty