ATTENTION SIMI VALLEY FIRST TIME BUYERS: Eligible Homes Available for $200,000 in Down Payment Assistance (30DC28)

By
Real Estate Mortgage Broker with Los Angeles & Ventura Counties in CA

Right now, there are more than 70 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance.  Furthermore, these are not like those run-down, dilapidated dumpy REO's that the market is saturated with.  No way, more than half of these properties are totally move-in ready; properties that upgraded and/or totally remodeled properties. 

 

For example, like this spectacular 4bd/2ba pool home with nearly 1,500 sq. ft. of living space on a large lot of nearly 10,000 sq. ft.  This home offers a remodeled kitchen with granite countertops and stainless steel appliances w/slide out pantry drawers.  

There's also a remodeled master bathroom and new windows throughout the home.  There's also a new furnance and crown molding throughout the home.  A private backyard with basketball area for the kids and a huge pool with waterslide & covered patio.

 

 

Or this move-in ready 4bd/2ba pool home with more than 1,800 sq. ft. of living space on a corner lot of more than 7,000 sq. ft.  This home features new tile entry and a remodeled cook's kitchen with granite counters, custom tiled backsplash, stainless steel dishwasher, island bar and custom cabinetry.  There's also new carpet, new paint, new flooring.  

 

 

Or this beautiful 4bd/2ba pool home with nearly 1,300 sq. ft. on a large lot of more than 8,000 sq. ft.  This remodeled home features new kitchen cabinets, new appliances an new granite counters.  There's also new paint inside and out, double pane windows, smooth ceilings, recessed lighting and a new sliding glass door.  Lastly, there's new carpet, a new roof new landscaping.

 

I like this program because the Simi Valley city administrators for this program are not only the easiest ones to reach but they are also some of the friendliest ones to talk to and deal with.  

The property may be a detached or an attached single-family home, a condominium, or a town house.  The program is available to those who have not owned a home in the last three years.  Single parents who owned a home while married and displaced homemakers may qualify even if they owned a home in the previous three years. 

  • Program eligibility will be based on total household income, a housing cost ratio not to exceed 35%, and a debt-to-income ratio not to exceed 45%.
  • The primary loan must be a fully amortized loan.  No interest only loans for the first trust deed.
  • Buyers must occupy the unit as their primary residence.
  • A portion of the proposed $50,000 per bedroom subsidy may be used for necessary repairs to bring the property into compliance with the City's Housing Quality Standards (HQS). 

The maximum home price and City subsidy limits appear below: 

# Bedrooms

Maximum Market Purchase Price

Per Bedroom Subsidy Limits

Maximum Affordable Sales Price

1

$206,700

$50,000

$156,700

2

$280,900

$100,000

$180,900

3

$349,300

$150,000

$199,300

4

$418,600

$200,000

$218,600

For more info on how you can qualify for down payment assistance to purchase one of these homes, contact me, Donne Knudsen of Cobalt Financial Corp, at 805.5278554 or donne4loans@earthlink.net

Today's real estate market and lending environment can be really scary, which is why it's important to get as much information as possible before starting your search.  Finding out more about affordable home loan options and getting pre-approved is an absolute must.  The pre-approval process is relatively simple so contact me today to get pre-approved for this incredible program and make one of these fantastic properties your next home.  

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 Donne Knudsen

Realtor® - CalState Realty Services

DRE#: 01364050 / NMLS#: 249822 

 

805.2069123

 

E-mail   My Blog  

Serving low-medium income individuals and families as well as first time buyers with both their real estate as well as their mortgage needs including down payment assistance

Los Angeles County  --  Ventura County

© 2010 - All Rights Reserved

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Topic:
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Rainmaker
167,354
Richard Ruggaber
California Real Estate - (800) 591-5788
John Aaroe Group, Inc.

wow that looks like a real good deal, best of luck :)

September 23, 2010 11:59 PM
Rainmaker
807,358
Anthony Stokes-Pereira
Realtor
Better Homes and Gardens Rand Realty

This sounds like very affordable houses. Hope you sell quickly.

September 24, 2010 12:17 AM
Rainmaker
298,823
Karen Pierce
Karen Pierce | Housing Counselor |Oregon

Hi Donne - This is a fabulous down payment assistance tool for your eligible Simi Valley home buyers. What a great way to get the affordability level those buyers need in a higher cost market!

September 24, 2010 12:30 AM
Rainmaker
598,564
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Liz - This is one of my favorite dpa programs.  I've been working with them for a few years and they help a lot of first time buyers become homeowners.

Richard - It is a good deal.  It's not easy to qualify for but for those that do, it's a great program.

Anthony - They are affordable with the down payment assistance.  All of these properties are in the high 300k to low 400k.  With the dpa their loan amount is half, which makes them much more affordable for the low-medium income individual and families.

Karen - It is a wonderful program, which is why I love working with Simi Valley buyers.  That and I love putting clients in my own hometown.

Thx for stopping by folks; I really appreciate it.  Good night.  :)

September 24, 2010 12:49 AM
Rainmaker
221,515
Phil Stevenson, CRMP
Reverse Mortgage Expert in Miami and Florida
PS Financial Services 786-586-3336 or 888-845-6630

All right, Donne, I guess I'm moving to Cali!  We dont have programs like that in So Fla.  I just think of the song by LL Cool J, "I'm going back to Cali, Cali!" 

September 24, 2010 11:29 AM
Anonymous
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Rainmaker
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Donne Knudsen

CalState Realty Services
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