An exciting new program has been announced!!!
The Culinary Union has announced a new loan program that will allow Union members to access a deferred loan to cover the costs of down payment and closing costs requirements....up to $20,000 maximum.
This means they can get in a home for as little as 1% down.
Criteria for EMPLOYER-ASSISTED HOUSING PROGRAM Deferred Loans
Money has to be used as payment of the down payment and/or closing costs. Limit is $20,000
Must be owner occupied.
An eligible applicant must meet the criteria for underwriting applied by the FHA, VA, or Fannie Mae.
Purchase price must be priced $360,000 or lower. However, please keep in mind it must still fit FHA, VA or Fannie guidelines, so please call your lender to discuss all loans and down payment requuirements as the $20,000 may not always be enough in homes priced over $307,500.
The eligible applicant must make a minimum investment of 1% of sales price towards down payment and/or closing costs.
An eligible applicant must be a current member of the Union at the time of the loan to be eligible for assistance.
The eligible applicant must meet the minimum tenure requirements of employment.
Call 702-212-2288 for more details on this program.
Keller Williams Realty
Shall-Ching Lu
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