Are you a first-time homebuyer looking to purchase a home in the city of Brea, California? If so, you may want to consider taking advantage of the Brea Homebuyer Program and its Down Payment Assistance. This program is designed to help those who may not have the financial resources to purchase a home, by providing down payment assistance and other resources to help make it possible.
The Brea Homebuyer Program provides a variety of assistance options for first-time homebuyers, including: Down Payment Assistance, Home Repair Assistance, Closing Cost Assistance, and Mortgage Credit Certificate Assistance. Each of these assistance options are designed to help provide financial assistance to those who meet the qualifications of the program.
Down Payment Assistance is available to qualified first-time homebuyers in the form of a forgivable loan. This loan can provide up to 6% of the purchase price of the home as a down payment. The loan is payable over a period of 10 years and can be forgiven completely after 5 years. This can be a great way to get into a home without having to pay a large down payment.
Home Repair Assistance is also available to those who qualify. This assistance can provide up to $20,000 for home repairs and improvements. This can be used to make necessary repairs to a home before moving in, or to make improvements to make a home more comfortable and livable.
Closing Cost Assistance is also available to qualified first-time homebuyers. This assistance can provide up to $10,000 to help cover the costs of closing on a home. This can be a great way to reduce the financial burden of purchasing a home, as closing costs can be expensive.
Finally, the Mortgage Credit Certificate Assistance is available to those who qualify. This assistance can provide up to a $2,000 tax credit each year for the life of the loan. This can be a great way to save money on your taxes each year.
The Brea Homebuyer Program and its Down Payment Assistance can be a great way to get into a home without having to worry about a large down payment. If you are a first-time homebuyer in Brea, California, you should definitely look into taking advantage of this program.