We're excited to share some important news, and help you make the dream of homeownership into a reality.

So, stay tuned until the end and if your ready, then take advantage of these opportunities.

We understand that, interest rates increases, have made buying the home you want more expensive, and that the payment that is comfortable doesn't have enough purchasing power to get you a house that you would love.

NextHome Realty Source One, has been actively looking for solutions to make homes affordable for our home buying clients.

CalHFA is introducing the, California Dream for All, Down payment assistance program for first time
homebuyers on March 27th ,2023

The program will offer eligible homebuyers up to 20% in down payment and closing costs assistance.

The assistance is not a grant.

It is a shared equity, 0 percent interest, second loan that will need to be repayed if you sell the home, or refinance.

Shared equity means that at the time of the sale, CalHFA will share your success by receiving 20% of the equity gains for making this opportunity possible.

At zero interest, this will provide home buyers with additional purchasing power to buy a bigger home that actually love without increasing the monthly mortgage payment.

This is great news, but you may be wondering, who qualifies for this program?

Here are the program requirements.

• Homebuyers must have a minimum credit score of 680.

• Home buyers must have a maximum household income of 173 thousand dollars for homes bought in Riverside and San Bernardino Counties.

• The home purchase price should not be more than 726 thousand 200 dollars

• Homebuyers must provide two years of tax returns and one month's paystubs

• Homebuyers will need to complete the 8 hour Homebuyer Education Course from CalHFA.

• and lastly, homebuyers will need to work with a Cal-hafa approved lender.
  
  Don't worry, we have already put together a list for
  you.
  
  You will need to take action as soon as possible.
  
  

This program is on a first-come, first-serve basis, and there's only 300 million dollars allocated towards the program statewide.

Once the funds have been allocated, the program will close until the funds are payed back.

Contact us today to connect you with Cal-hafa approved lenders, and get ahead of other home buyers before the launch date.

As second possible option is buying a home in foreclosure.

Due to the recent loss of jobs and rising interest rates.

There has been a large increase of homes going into foreclosure.

Currently, there are approximately 1,400 homes in Riverside, San Bernardino and San Diego counties that are not on the market and facing foreclosure.

The homeowners are seeking a solution to avoid foreclosure,and potentially sell to be able to keep some of their equity and get a fresh start.

This provides and opportunity for homebuyers to buy a home that they will love without the competition and help these homeowners in desperate need.

If you would like to see a list of homes that meet your criteria, call or text us at
951-419-4549 or simply email us at [email protected] to let us know, and will put a list together for you to consider.

We look forward to hearing from you to see what is possible.

Lastly, Did you know that it may be possible to get into a home at a lower interest rate than is currently
available?

That is correct.

Some properties have what are called assumable loans Usually these are FHA and VA loans.

An assumable loan is a type of mortgage that allows a homebuyer to take over an existing loan from the seller and agrees to take on the remaining balance of the seller's mortgage at the same rate.

This means that the new homebuyer can take advantage of a lower interest rate than is currently available and make lower monthly payments on that home.

At NextHome Realty Source One, we are committed to helping our homebuying clients explore this option by contacting the homeowner's on any and all homes that you may be interested in.

Please contact us, so we can get a list of homes, and start exploring these options for you.

You can reach us by call or text at 951-419-4549

We hope that these options, help you realize your dream of homeownership even with high interest rates and prices.

Thank you for watching and we are looking forward to helping you get into your dream home.