CalHFA Interest only Loan Program
0 Comments Published by Brian W. Barringer on Monday, April 10, 2006 at 5:51 PM.
This is a great program for first time buyers.........................................
Interest only PlusLoan Program
for
San Joaquin County
CalHFA’s interest only PLUS is a 35-year conventional loan with a below market fixed interest rate. Borrowers pay only the interest on the loan for the first five years. After that, borrowers pay principal and interest at the same low interest rate for the remaining 30 years. This program is intended for first-time homebuyers who meet specified low and moderate income limits and who are purchasing a new or existing home anywhere in California.
Program Requirements:
1) First Time Buyers only - Can not have owned property in the last three years.
2) Income Limits for San Joaquin County:
1-2 Person Household $68,520 a year
3+ Person Household $79,940 a year
3)Purchase Price Limits for San Joaquin County:
New Construction $525,000, Re-Sale $429,620
4)Must be U.S citizen
Other CalFHA Programs:
1)30-Year Fixed Mortgage
2)40-Year Fixed Mortgage
When you are ready give me a call and we can go over your situation and evaluate your needs.
Brian Barringer
Real Estate Buyers Advocate
209-613-8945
800-894-7282
Buyers, real estate, Tracy Real Estate, Tracy, CalHfa, Loans, San Joaquin County, Brian Barringer, First Time Buyers, goverment
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