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Home Buyer Programs

Down Payment & Closing Cost Assistance ��

Antonio Hernandez

(510) 474-2846

adezsellshomes@gmail.com

eXp Realty

DRE #02125647

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California Dream for All-RIP

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(March 27 to April 7, 2023)

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  • March 27 to April 7, 2023
  • $300MM
  • Fully Committed in 11 Days
  • Millions of hearts broken
  • Huge Opportunity Still
  • 700 Credit Scores
  • Most have cash in the bank
  • Biggest lead generator we have seen since Covid Rates
  • Other options available. Don’t lose momentum

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Cal HFA Conventional DPA

  • Will give you 3 down towards down payment and up to 3% for closing costs
  • Client can add their own funds
  • Silent Second (no payment due till sold or cash out refi)
  • 1% to borrower down payment, 0% to borrower up to 3% closing costs
  • 1.5% fee for program
  • Min Fico 660 if below $121k, 680 if above, at 700 get approved up to 5% more in dti
  • High Balance up to $1,089,200 or County limit (w fee)
  • Cheaper MI then FHA

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Cal HFA FHA DPA

  • Will give you 3 ½% for down payment up to 3% in closing costs

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  • 1.5% fee

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  • No income limits

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  • County limits could be lower for FHA vs. conventional

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  • 640 min fico, 700 gets highest approval at 50% DTI

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  • FHA just lowered MI premiums in March

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  • High Balance up to $1,089,200 or County limit (w fee)

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GSFA Platinum

  • Will give up to 5.5% for downpayment and closing costs.
  • Will give “gift” for part of DPA for Teachers, Police Officers, First Responders, Health care workers, and Some County workers
  • Does not have FTHB requirement
  • Up to conforming limits $726,200 only.
  • Amount that is paid back is a 15 year Fixed at same as mortgage rate
  • 640 Fico Score

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Supreme Dream

With Supreme Lending ONLY

  • Only with Supreme Lending
  • 3 ½% down towards down payment or closing costs
  • Can bring in own funds
  • 620 Minimum Fico Score
  • Fully Forgivable after 5 years of on time payments
  • 56.99% DTI
  • No FTHB requirements
  • 2 units allowed
  • No Costs like State Programs
  • Conforming loan amounts only

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Fannie Mae/Freddie Mac

  • Better Pricing for worse credit scores and lower down payments
  • Increased income limits to 120% of county limit $181,320k in Contra Costa and neighboring counties have no additional pricing hits
  • 3% down for FTHB on low bal up to $726,200
  • 5% down on high balance and for non FTHB
  • FHA always 3 ½%