Archive for the ‘Down Payment Assistance’ Category

  • Down Payment Assistance and Cash On Hand

    Jul 6, 15 • Fat Ashton • Down Payment AssistanceNo CommentsRead More »

    Down Payment Assistance & Cash On Hand Looking into down payment assistance programs and wondering how much you actually need to buy a home? These days there are plenty of down payment assistance programs, and programs that offer additional funds to help pay for down payments and even closing costs. So even though there are loans designed to help cover all the costs involved in a purchase, there are still a few items that you need to pay for out of pocket throughout the process. These are things like a home inspection, appraisal inspection and Earnest Money Deposits. Each one of these items is a real cost that needs to be accounted for before the closing of a loan. So how much do these items add up to, and how much should you have in the bank even if you are pursuing a loan program that covers most if not all of your costs? If this is a question that is pertinent to you, e-mail me at and we can take a look at your situation, and we’ll let you know how much cash you’ll need to get through your purchase transaction

  • 10 Ways To Get That Down Payment

    Many people have the good income, great credit history, and a manageable amount of debt they need to qualify for a home loan.  What many don’t have is the down payment.  Even at a minimum down payment percentage of 3.5%-5% means thousands of dollars out of pocket.  In high cost areas like here in San Diego it can reach five digits quickly.  So, if you find your self short on funds here are 10 ways to get that down payment you may not have considered until now. 1. Side work 2. State down payment assistance programs 3. County and city down payment assistance programs 4. Family 5. USDA Mortgages 6. Friends and loved ones 7. Your IRA 8. Your 401(k) 9. VA loans 10. Good ‘ole savings For more details on all 10 of these down payment sources click this link here: By David Hughson Down Payment Expert 858-863-

  • Down Payment Assistance is Easier Than You Think

    When I meet with clients for the first time, most of them, of course, are excited about the idea of Down Payment Assistance (DPA).  However, as soon as they start learning that there are income and purchase price limits, many become discouraged.  Well, make sure that’s a realistic discouragement!  What I find is that Down Payment Assistance is Easier Than You Think.  Now there is a wide variety of programs and they are all different.  But for this article I’m going to pull examples from one of the easiest programs we offer. Income limits – Let’s give a quick example here.  Depending on how many people live in the home, income limits vary. * If it’s just one person you can make as much as $63k/year. * If it’s 8 people then is $120k/year. * For an average family of 4 – you can make $91k/year and still qualify for these homes. Purchase Price Limits – This particular program also has a purchase price limit, but it’s quite generous!  Rather than depending on how many people live in the home, these limits are based on where the home is.  For example, in San Diego County * $534k max purchase price for “non-targeted” areas * upto $653k for “targeted” areas Target and non-target areas delineate specific areas in the county that the program is designed to give extra assistance to.  Of course

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