Homebuying with No Down Payment

Did you know it is possible to buy a home with zero money down? Earlier this year, California Home Finance Agency increased the income limit to qualify for the Down Payment Assistance Program to $157,050 per household. This means that if your family collectively earns less than $157,050, then you may qualify to buy a home with zero down payment! The program allows you to buy a home up to $660,000 with zero down payment. If you are paying more than $2,000 per month in rent, it may be time to consider buying a home instead of renting. The tax benefits alone will surprise you and make you wish you had found out about this opportunity sooner rather than later.

Many PQ residents find themselves in a rising rent market, and it is time to consider buying instead of paying your landlord’s mortgage. Interest rates are still near historic lows and there are no signs of a housing correction. Until supply outpaces demand, I don’t see any reason to be concerned about a housing correction. There are many other data points to suggest this as well – refer a few months back to our article on this topic. If you are interested in buying with little to nothing down, or just buying in general, please reach out to us for a complimentary consultation.

rew_centermaclogoJean Riley

Professional Real Estate Consultant
BRE # 02004228

Nick Harris

Production Manager, Sr. Loan Officer, PrimeLending
NMLS: 176969

Centermac SD, Inc.
9888 Carroll Centre Rd., Ste 200

San Diego, CA 92126