Owning a home has long been a major part of the American Dream. Unfortunately, maintaining a good credit score and having a stable income isn’t always enough to get you into your first home. According to California Housing Finance Agency (CalHFA) Executive Director Tia Boatman Patterson, “The lack of savings for a down payment is often the barrier to purchase for first-time homebuyers, even though they can afford the monthly payments.”
But help is on the way.
CalHFA is launching a new program called the MyHome Assistance Program designed to help first time homebuyers who are unable to come up with a down payment or closing costs.
Boatman Patterson says, “This new program bundles the first mortgage with down payment and closing cost assistance for our borrowers to make the home buying process simple, affordable and, most importantly, attainable.”
Buying your first home can be complicated and stressful. The decisions you make during the purchase can affect the future value of your investment, and your personal finances for years to come. The practices of unscrupulous lenders led to the housing crisis and the rampant foreclosures that followed in its wake. Before signing any home purchase agreement, you need to consult an experienced real estate attorney.
The legal team at McFarlin LLP has helped hundreds of Orange County first time homebuyers get the best purchase arrangements possible. We have years of experience in Southern California real estate law and will use our knowledge to guide you through the entire home purchasing process.
Your financial future is at stake. Protect it. Call our office today at (949) 544-2640 for a free consultation.