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 Newark, CA for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Newark, CA provides a financial boost to eligible homebuyers in Newark, 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 Newark, CA can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Newark, CA. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Newark, 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 Newark, 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 Newark, CA, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Newark, 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 Newark, 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 Newark, 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.
FHA Down Payment Assistance Home Loan offers numerous benefits to homebuyers in Newark, California. This program provides financial assistance to help individuals and families become homeowners with a lower down payment requirement, making homeownership more accessible and affordable. Additionally, FHA loans often come with lower interest rates compared to conventional loans, reducing the overall cost of borrowing. These loans also have less stringent credit requirements, making it easier for individuals with limited credit history or lower credit scores to qualify for a home loan. Furthermore, FHA loans allow for higher debt-to-income ratios, providing more flexibility for borrowers with existing debts. This program is particularly beneficial for first-time homebuyers and those who may not have sufficient savings for a traditional down payment. Demographics: Newark, California, is a diverse and thriving community located in the heart of the Bay Area. With a population of approximately 47,000 residents, Newark offers a mix of cultures, backgrounds, and lifestyles, making it a vibrant place to call home. Housing Market: The housing market in Newark is competitive, with a median home price of around $1 million. However, with the assistance of FHA loans, prospective buyers can overcome the barrier of high down payments and enter the market with greater ease. Main Attractions: Newark boasts various attractions, including the Don Edwards San Francisco Bay National Wildlife Refuge, a haven for nature lovers. Additionally, the city is close to Silicon Valley, offering residents convenient access to job opportunities and cultural amenities.
Benefits of FHA Down Payment Assistance Home Loan
