Pacoima, CA

There is a lovely Pacoima home that offers 5bd/3ba with more than 1600 sq. ft. of living space on a nearly 5,000 sq. ft. lot. Beautifully remodeled and fully rehabilitated, this completely energy efficient home is totally move-in ready and is just waiting for the right first time buyer to come along and fall in love with it!!!

Walking distance from Hansen Lake and Hansen Dam, this wonderful home is the perfect starter home for the right family. There is no competing with all cash investors either, this home is only available to eligible and qualified, low-median income families who are looking for their first home.

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 around $1,900 - $2,100 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:

· 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	$47,850	$54,650	$61,500	$68,300	$73,800	$79,250	$84,700	$90,200
Moderate Income	$71,750	$82,000	$92,250	$102,500	$110,700	$118,900	$127,100	$135,250

	Low Income Up to 80% AMI	Moderate Income Up to 120% AMI
Purchase Assistance (down payment & closing costs)	Up to $75,000	Up to $50,000

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 C2 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

Completely remodeled! This 3bd/2ba, San Fernando valley home has nearly 1,200 sq. ft. of living space on a nearly 10,000 sq. ft. lot, Located on a great residential street, this home is move-in ready and built to help save the environment and your money.

Don't miss this one! Fresh new paint inside and outside and new tile & carpet floor throughout. All new kitchen with new stainless steel, Energy Star appliances and new cabinets. All new bathrooms with new luxury finishes.

There is new double paned windows throughout as well as new central a/c, new heating system and new energy-saving tank-less water heater. All new water-saving landscaping, new electrical, new plumbing and a new roof.

Walking distance from Hansen Lake and Hansen Dam, this wonderful home is the perfect starter home for the right family. There is no competing with all cash investors either, this home is only available to low-median income families who are looking for their first home.

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 $1,200 a month, eligible buyers can own this wonderful home. Consquently, comparable rentals for this area are going for around $1,700 - $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:

• 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	$47,850	$54,650	$61,500	$68,300	$73,800	$79,250	$84,700	$90,200
Moderate Income	$71,750	$82,000	$92,250	$102,500	$110,700	$118,900	$127,100	$135,250

	Low Income Up to 80% AMI	Moderate Income Up to 120% AMI
Purchase Assistance (down payment & closing costs)	Up to $75,000	Up to $50,000

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 C2 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

There is often a lot of confusion with various boundaries in Los Angeles and particularly in the San Fernando Valley. This next series of blogs will help define the boundaries of various neighborhoods.

MAP OF PACOIMA BOUNDARIES

View Pacoima (PAC) in a larger map

 

Mills Realty has provided this interactive map, based on the official City Council maps, for your convenience. Buyer and Seller are advised to check the official LA City Council maps to determine the actual boundaries of the various communities.

Links to all San Fernando Valley BoundariesArleta, Burbank, Calabasas, Canoga Park, Chatsworth, Encino, Granada Hills, Hidden Hills, Lake Balboa, Mission Hills, North Hills, North Hollywood, Northridge, Pacoima, Panorama City, Reseda, San Fernando, Sherman Oaks, Studio City, Sun Valley, Sylmar, Tarzana, Toluca Lake, Universal City, Valley Glen, Valley Village, Van Nuys, West Hills, Winnetka, Woodland Hills

A few months ago, I posted that the Los Angeles Housing Department (LAHD) was making some changes to their Neighborhood Stabilization Program (NSP) by utilizing their NSP funds to purchase and rehab foreclosed properties in NSP eligible areas.

ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Stop Getting Beat Out by the All-Cash Investor

It's taken nearly four months for this change to come to fruition but Restore Neighborhoods in Los Angeles (RNLA) has finally finished rehabbing the first of many properties that are now eligible for purchase from NSP eligible buyers.

No more competing with the all cash investor for some run-down, dilapidated dump. Now the only competition my NSP clients will be up against is other NSP buyers; other low-medium income financed buyers. YEAH!!!

RNLA has acquired and rehabilitated the houses to sell to eligible home buyers whose incomes do not exceed the area median income levels. The homes acquired by RNLA have been rehabilitated to meet standard building code requirements, all major building deficiencies have been addressed, and environmentally responsible "green" building components have been incorporated.

The homes being offered by RNLA are now available for up to $75,000 in NSP down payment assistance. NSP down payment assistance is a "silent second", which means no payment until the home is sold or refinanced.

To qualify for this program, applicants must not have owned a home in the last three years, must complete an eight hour home buying education class, must occupy the property as their primary residence and their income must not be greater than the maximum eligible income level. Income levels are based on family size.

While many may not see the benefit of this, for the low-medium income buyer here in Los Angeles County, this is HUGE! 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. 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.

This immaculate 4bd/2ba with energy efficient lighting, central AC/heat and more than 1,400 sq. ft. is available for $254,950.

This totally restored Pacoima home has bamboo wood floors, granite counter tops, new cabinets and appliances as well as a new tankless water heater and a water saving irrigation system for the yards.

With a step down master suite with walk-in closets this home sits on a more than 6,000 sq. ft. lot and has so much to offer the first time buyer and their family.

Located just blocks from the Hansen Dam Recreation Center, this family friendly neighborhood is a great place to call home.

For more info on this incredible home, contact Mel Wilson of Altera Real Estate at 818-5342400 or at alterawilson@gmail.com. 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 805.5278554 or donne4loans@earthlink.net.

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 relatively simple so contact me today to get pre-approved for this incredible program and make this fantastic property your next home.