Get Approved at The Lowest Rate
Securing a down payment can be one of the biggest challenges on the path to homeownership. That’s why we’re thrilled to offer a comprehensive Down Payment Assistance (DPA) program in Monterey Park, CA for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Monterey Park, CA provides a financial boost to eligible homebuyers in Monterey Park, CA, making it easier to cover the upfront costs of purchasing a home. This assistance is available in the form of a forgivable grant, which means you don’t have to repay it under certain conditions.
Our DPA program is available in most states across the U.S., excluding Washington state. This extensive reach ensures that many aspiring homeowners in Monterey Park, CA can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Monterey Park, CA. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Monterey Park, CA, which can be used for closing costs. This flexibility allows for a more manageable and less stressful home-buying experience.
Enjoy the freedom of homeownership in Monterey Park, CA without any resale restrictions. You can sell your home whenever you choose without worrying about penalties or limitations.
To qualify for our FHA Down Payment Assistance program, you need to meet the following criteria:
A FICO score of 580 qualifies you for Approve/Eligible status in Monterey Park, CA, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Monterey Park, CA.
If you’re still working, you must either be retired or actively volunteer in your community.
We are committed to guiding you through every step of the home-buying process in Monterey Park, CA. Our experienced team will work closely with you to explore your options, ensuring you make informed decisions that suit your financial situation and homeownership goals.
Don’t let the down payment be a barrier to your dream home. Contact Horizon Lending Services today to learn more about our FHA Down Payment Assistance program in Monterey Park, CA and take the first step towards owning your home. Our dedicated professionals are here to help you navigate the complexities of home buying with confidence and ease.
Let Horizon Lending Services be your trusted partner in turning your homeownership dreams into reality.
Firstly, an FHA Down Payment Assistance Home Loan in Monterey Park provides eligible buyers with the opportunity to purchase a home with a lower down payment requirement, making homeownership more accessible and affordable. Secondly, these loans often come with lower interest rates compared to conventional loans, helping buyers save money in the long run. Additionally, the lenient credit score requirements make it easier for individuals with less-than-perfect credit to qualify for a loan. Thirdly, FHA loans offer options for fixed-rate or adjustable-rate mortgages, allowing buyers to choose the best option that suits their financial situation and long-term plans. Demographics Monterey Park, California, is a diverse city with a significant Asian population, primarily of Chinese descent. The city boasts a strong sense of community and a blend of cultures, making it a welcoming place to call home. Housing Market The housing market in Monterey Park is competitive, with a mix of single-family homes, townhouses, and condominiums. The median home price is above the national average, reflecting the city's desirability and strong demand for housing in the area. Main Attractions Some main attractions in Monterey Park include the Garvey Ranch Park, known for its scenic views and hiking trails, as well as the Atlantic Times Square, a popular shopping and dining destination in the city.
Benefits of FHA Down Payment Assistance Home Loan in Monterey Park, California
