H.E.L.P. – A New Program to Help First-Time Home Buyers in Silicon Valley
Posted by Lauren Spencer on
With housing prices continuing to climb in the region, many first-time buyers have had a hard time breaking into the Santa Cruz real estate market. To help alleviate some of the financial pressures these buyers are facing in the Silicon Valley , Housing Trust Silicon Valley is helping home buyers with a new Homebuyer Empowerment Loan Program (H.E.L.P.), which will become available to help households with incomes that are up to 140% of the area's median income to buy a market-rate home.
Here’s everything you need to know about the latest loan program for first-time home buyers in Silicon Valley.
Funding Assistance For Your First Home in Silicon Valley
The Homebuyer Empowerment Loan Program will assist middle-income earners looking to buy…
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Buying your first home is one of the most exciting purchases you’ll make in your life, but before you start to comb through the listings to find the home of your dreams, you’ll need to find out how much you can borrow. If the idea of buying a home is even minutely interesting to you, it’s never to early to get your financials in check so that when the time comes, there’s nothing to hold you back.
The Santa Cruz real estate market is still simmering from its red-hot year in 2015. Prices remain high, inventory is low and the demand for homes is still remarkably high. So where does that leave first-time homebuyers? With rental prices at an all-time high, it may be time to ask yourself the tough questions. Are you ready to buy a home? Can you picture yourself spending the next few years here? Are you financially and mentally ready to commit? If you can honestly answer those questions with a yes, then you’re nearly halfway there.
So, you’ve found the perfect homes for sale in Santa Cruz and have already been approved for a mortgage. All that’s left is for you to finalize the deal and the home is yours! Sounds pretty straight forward, right? But closing costs have a tendency to sneak up on buyers (especially first-timers) that get so caught up in the excitement of house shopping that they completely forget about them, that is until they want to seal the deal.Â
California Association Of REALTORS® Study Finds Alarming Trends
When you make the decision to buy your first home, there’s a whole spectrum of emotions that typically come into play. With so much money on the line and the commitment of a mortgage, it’s no wonder that home buying is regarded as one of the biggest decisionsf your life. It's also one of the most exciting, too! Here are a few common mistakes of new buyers to avoid if you’re thinking about purchasing your very first home.
