A small beachside community of approximately 10,000 residents within the city of Los Angeles, Playa del Rey offers some of the most affordable beach life living in Los Angeles county.
Rolling hills that border the Pacific Ocean and Marina del Rey, this South Bay community is the perfect spot for those who want to have easy access to major L.A. business centers and transportation routes but also want the more relaxing lifestyle that Playa del Rey provides to those that live here.
This beautiful 2bd/2ba corporate owned, Cross Creek Village condo features new paint and flooring throughout with updated baths and kitchen with granite counters and brand new stainless steel appliances.
This wonderful resort style living, noted for its lush gardens and multiple amenities, offers two swimming pools and spas, several gyms (with mens & womens locker rooms), sauna, full clubhouse (with it's own personal & professional amenities), two tennis courts, basketball court and its own dry cleaning service.
Just minutes from Dockweiler State Beach, Ballona Creek, freeways, airport and schools. This lovely home is not an REO or a short sale and all offers are responded to within 24-48hrs. The best part is that this home is not only in an FHA approved complex but this home is also eligible for down-payment assistance (DPA) from CalHFA for eligible borrowers.
Since 1975, the California Housing Finance Agency (CalHFA) has been making low interest rate loans through the sale of tax-exempt bonds. As the state's affordable housing bank, CalHFA is a completely self-supporting state agency and the bonds are repaid by revenues generated through mortgage loans, not taxpayer dollars.
CalHFA's mission is to provide affordable housing finance opportunities to low and moderate income first-time homebuyers. They do this by offering below market, fixed rate mortgages along with down payment assistance (dpa) programs. CalHFA has recently launched their new FHA program (they've never offered FHA before) as well as their improved Cal30 program and their CHDAP dpa program.
Borrowers must be first-time homebuyers as well as meet the program income guidelines and requirements and the property must be within CalHFA's sales price limits. CalHFA generally offers a reduced interest rate for eligible homebuyers who meet the "Low Income" limits, adjusted for household size. Loans with competitive interest rates are also available to "Moderate Income" households. The following are the current rates to eligible low-medium income applicants for both conventional loans as well as the FHA loans:
CHDAP provides down payment assistance in the form of a deferred payment second loan, commonly referred to as a "silent second" because you make no payments on the loan for as long as you hold the loan. The amount of the loan is up to the lesser of three percent (3%) of the purchase price or appraised value.
Today's real estate market can be really scary, which is why it's important to get as much information as possible before starting your search. 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. 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 here in Los Angeles or Ventura county.
For more info on this wonderful Playa del Rey property, please feel free to contact Greg Foster at 213.9105060 or gfoster@helpupurchase.com. For more information on affordable home loan options, please feel free to contact me, Donne Knudsen, at 805.5278554 or donne4loans@earthlink.net.
Photos courtesy of: wtstoffs, la county dept beaches & harbors, calhfa, G i a c o m o - M a c i s
