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TOTALLY REHABBED ARLETA HOME ELIGIBLE FOR DOWN PAYMENT ASSISTANCE

This wonderful 3bd/1b, West Athens home has nearly 1,000 sq. ft. of living space on more than 5,000 sq. ft. lot. This incredible home has been completely rehabbed and upgraded throughout the entire home. There is a completely brand new kitchen with new energy efficient appliances, granite counters, wood cabinets and tile floor.

The best part is that this home is also eligible for down payment assistance through the Los Angeles Housing Department (LAHD) Neighborhood Stabilization Program (NSP). NSP down payment assistance is a "silent second", which means no payment until the home is sold or refinanced. For less than $1,400 a month, eligible buyers can own this wonderful home. Consquently, comparable rentals for this area are going for $1,500 - $1,800 a month.

No more having to overbid for some dump just so you can get your offer accepted. No more worrying about whether or not it will appraise for value and what repairs are going to be required. No more having to get pre-approved with the REO bank just to be able to make an offer. No more worrying about how much more money you are going to need to spend after the close of escrow just to make the house habitable.

Program Requirements:

  • Properties must be a vacant foreclosure and/or bank owned property.
  • Eligible homebuyers must not presently have an ownership interest in any real property and they must occupy the property as their primary residence.
  • Eligible homebuyers must also attend and complete an eight (8) hour homebuyer education class.
  • A minimum of 1% of the purchase price is required as down payment. The one percent (1%) must come from the borrower's own funds.
  • Eligible buyers must meet NSP maximum income guidelines limits.

Household Size

1

2

3

4

5

6

7

8

Low Income

$46,400

$53,000

$59,650

$66,250

$71,550

$76,850

$82,150

$87,450

Moderate Income

$69,650

$79,500

$89,400

$99,350

$107,300

$115,250

$123,200

$131,150

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 not a simple process and it's because it can get really complicated and convoluted, that borrowers today need affordable loan options that are best suited for their own needs.

For more info on how you can qualify for NSP down payment assistance to purchase this wonderful home, contact me, Donne Knudsen of Cobalt Financial Corp, at 805.2069123 or donne4loans@earthlink.net. If you have any questions and/or concerns, please feel free to contact me again. That's what I'm here for and I would love to be able to assist you in your search for an affordable home loan.

Photos courtesy of: LAHD NSP

Posted Monday Feb 14