Down Payment Assistance Offered By the City of Escondido
First time home buyers have many programs available that will help them
with the down payment, often the biggest stumbling block when buying a home. The City of Escondido offers 5% down payment assistance for first time home buyers. The requirements are simple -
2. You DO NOT need a down payment. Escondido will give you 5% down and we will get you an FHA 1st 30 year fixed mortgage for 95%.
3. Escondido allows borrowers to make up to 120% of the median income for San Diego County to qualify.
No need to worry about closing costs, because buyers can receive up to 3% closing costs assistance.
There are NO payments that need to be made on the 5% down from Escondido or the 3% from the state. You do not have to pay the down payment assistance back until you sell the property. If you never sell, you never have to pay the down payment assistance back! For Veterans we can also structure this with a VA loan 1st mortgage.
To see all the homes for sale and find the best deals in Escondido contact me – Janet McCarthy ( 858-243-5719). I will set-up a buying plan for you and in no itme you can say good-by to your landlord. Currently, there are
55 homes for sale in Escondido – bank owned foreclosures and approved short sales waiting for buyers to make an offer.
If you are interested in learning more about all of the hidden grants and down payment assistance programs available to home buyers in San Diego County – please contact a specialist at www.sandiegodownpayment.com, or www.SoCalFHAHomeloans.com or www.SoCalVAhomeloans.com.
Filed under: Buyer Programs Tagged: | closing costs assistance, down payment assistance, escondido homes
