Down Payment Assistance

First-time homebuyers don’t have to pay a 20% down payment. Down payment assistance programs can help you save.

Lately, I have received many questions from people about down payments. They say they want to buy a home but don’t have enough to pay for a 20% down payment. The good news is, 20% is rarely needed these days. There are down payment assistance programs for first-time homebuyers in California, but in some regions, there are income limits.

These programs range from 3% to 5% of the purchase price, with a FICO score minimum of 640. The income limit for these programs in Los Angeles is $144,000; for San Bernardino and Riverside Counties, it’s $138,000; and Orange County residents’ limit is $193,800. These programs make buying a home completely affordable in California. Right now, we have a 3.5% interest rate, so it may be the time to become a homeowner.

If you have any questions about down payment assistance or real estate in general, please reach out to me via phone or email. I would love to help you.