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 Patterson, CA for FHA loans designed to help you achieve your dream of owning a home with ease.
Our Down Payment Assistance program in Patterson, CA provides a financial boost to eligible homebuyers in Patterson, 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 Patterson, CA can benefit from our assistance.
The grant can cover 2% or 3.5% of the purchase price of your home in Patterson, CA. This grant is completely forgivable, easing your financial burden.
You can combine this grant with up to 6% seller concessions in Patterson, 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 Patterson, 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 Patterson, CA, while a score of 620 is required for Refer/Eligible status.
This program is primarily designed for first-time homebuyers in Patterson, 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 Patterson, 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 Patterson, 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 loans offer many benefits to prospective homebuyers in Patterson. One significant advantage is the lower down payment requirement, which can be as low as 3.5% of the purchase price. This makes homeownership more affordable and accessible to a wider range of individuals and families. Furthermore, FHA loans also have more flexible credit score requirements, making it easier for individuals with less than perfect credit to qualify for a mortgage. This can be particularly beneficial for first-time homebuyers or those who may have experienced financial challenges in the past. Another key benefit is the opportunity to finance the upfront mortgage insurance premium, reducing the immediate out-of-pocket expenses for the buyer. This can help ease the financial burden of purchasing a home and provide greater financial flexibility. Demographics Patterson, California, is a diverse and growing community located in Stanislaus County. The city has a population of approximately 23,500 residents, with a median age of 31 years old. The demographics include a mix of Caucasian, Hispanic, and Asian residents, creating a vibrant and inclusive atmosphere. Housing Market The housing market in Patterson offers a range of options for homebuyers, from single-family homes to condos and townhouses. The median home price in Patterson is around $380,000, making it an affordable option for those looking to buy a home in California. The market is competitive, with homes typically selling quickly due to high demand and low inventory. Main Attractions Patterson boasts a variety of attractions, including the popular Del Puerto Canyon and Diablo Grande Golf & Country Club. Residents can also enjoy outdoor activities at the Forebay Aquatic Center or explore the local farmers' market for fresh produce and goods. The city's central location provides easy access to the Bay Area, Yosemite National Park, and the Sierra Nevada mountains.
Benefits of FHA Down Payment Assistance Home Loan in Patterson, California
