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City of Fresno $100k Down Payment Assistance 15-Year Forgivable Loan zero percent 0% interest rate
Manage episode 364658364 series 3393079
Το περιεχόμενο παρέχεται από το MKG Enterprises Corp Third-Party Originator NLMS 1370494. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον MKG Enterprises Corp Third-Party Originator NLMS 1370494 ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
On May 25, 2023 Fresno Mayor announced $100k forgivable loans for Fresno home buyers.
The City of Fresno Mortgage Assistance Program will provide down payment assistance. The City’s second mortgage loan will be a 15-Year Forgivable Deferred Payment Loan (DPL) up to $100,000 with a zero percent (0%) interest rate.
FHA Loan applicants must have a miThe DPL will provide homeownership for 50-70 Fresno low-income households that meet Fannie Mae AMI of $58,320 HomeReady.
For the year 2023, the maximum FHA loan amount for Fresno County is $472,030 in areas with lower housing costs.
Conventional conforming loan limits for Fresno County is $726,200. The minimum FICO score is 620.
Borrowers can use the assistance for the minimum required investment, closing costs, and/or prepaid expenses. For FHA loans the minimum FICO score is 620 to qualify for the low-down payment advantage which is currently at 3.5%. If your credit score is below 580, the down payment requirement is 10%.
The assistance amount is up to 21.183%
Apply for a home loan with down payment assistance FHA loan limits apply to $472,030
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