Mortgage information for the State of California
I write a lot of information about real estate and the mortgage industry especially in California. I have several California real estate agents, businesses, and industries that are right for and one in particular is one of the best mortgage lenders that I have found anywhere in California. Maya Swamy is an expert in helping first-time homebuyers, distressed borrowers, and military personnel find the right home loan with a variety of grants and programs to assist them in their purchase.
Each County in California offers something a little bit different and there are different income requirements and home purchase prices for different types of borrowers. Because California is generally an expensive state to purchase a home in, the income limits can be high in the purchase price maximums are also fairly high. In Contra Costa County the income limits can be over $80,000 and the home price maximums can run over $800,000. But even with the cost of homes, having a large chunk to put down on a down payment is difficult for many homebuyers.
There are several first-time homebuyer programs throughout the different counties in California. The MCC or the mortgage credit certificate allows for a tax credit to lower the income liability that a borrower has to claim.
She also offers several first-time homebuyer down payment assistance programs in the forms of grants or cash loans. Many of these grants never have to be repaid and several of the cash loan programs only have to be repaid when the home sells or is transferred to a new owner.
The requirements for many of these programs are fairly easy such as the borrower has to be the only occupant of the home, they can’t rent any part of the home out to anyone else, they have to be a first-time home buyer, and fall under certain income requirements. But low to moderate incomes can actually qualify for the majority of these loans.
The next time you need a loan expert or mortgage professional anywhere in the state of California I urge you to check out Maya Swamy at FundsAvailable.com. She can help you or any of your buyers find exactly what the looking for in a home loan. 323-230-9775 or Apply Here.