J. Martin Loans
I help families, investors, and our veterans to get the proper financing they need to purchase or re NMLS#1207064
EQUAL HOUSING OPPORTUNITY
04/05/2023
Great Program for First Time Home Buyers Only
DOWN PAYMENT ASSISTANCE FOR FIRST TIME HOME BUYERS
There is a new down payment assistance program that might help us to generate some new leads. This program is designed for first time home buyers specifically. Just in case you did not know a buyer that has not owned a home in the past 3 years is considered a first-time home buyer. Here is some information on the new first time home buyers' program.
Income Limit: $180,000 a year FICO:660
Down payment assistance will provide up to 20% down for first time home buyers. This is a shared appreciation loan program. That means that no monthly payment is required on the 20%, instead once the property has been refinanced or sold, the homeowner will be required to pay back the down payment plus 20% of the appreciation.
Usually on the down payment assistance programs the income limit is too low for Los Angeles County/Orange County priced homes. Now we finally have a DPA that makes sense. The other part of this program that is really attractive is that they are putting down up to 20% which does away with the monthly PMI and gives the buyer more buying power. This loan is the same as any other loan program as it will close in 30 days or less.
Again, a buyer that has not owned a home in the past 3 years is considered a first-time home buyer.
I hope this helps us to do some business together.
Please feel free to call me anytime on my cell phone with any questions you might have 310.350.9988.
Have a great day,
Jaime Martin
310-350-9988 Cell
Loan Officer
NMLS #1207064
02/24/2023
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22939 Hawthorne Boulevard
Torrance, CA
90505
Opening Hours
| Monday | 9am - 5pm |
| Tuesday | 9am - 5pm |
| Wednesday | 9am - 5pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 5pm |
| Saturday | 9am - 5pm |
| Sunday | 9am - 5pm |
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