Kern County First-Time Home Buyer Programs
Kern County is one of the more heavily populated areas of California. Those who are considering moving to the area are intrigued by the number of outdoor activities as well as the temperate weather. One of the primary problems facing first time homebuyers is coming up with a down payment. Fortunately, there are several first time home buyer programs in Kern County with liberal qualification criteria. Some of the programs include:
- HOME program – this program is administered by the Kern County Planning and Community Development housing division. Funds are available for owner-occupied housing and rental units and includes funding for rehabilitation, development and construction costs and a whole variety of other programs meant to help populations that are considered at risk.
- HomePath – the program offered through FNMA allows first-time buyers to bid on foreclosed properties. In early July of 2014, there were many foreclosure properties in Kern County available for a purchase price of less than $100,000. In addition, first-time buyers may be eligible for closing cost assistance, rehabilitation funds and down payment assistance programs.
- CHF PLATINUM™ – administered through the California Home Finance Authority, this is a great program for first-time buyers. After completing 8 hours of counseling, those who meet the financial guidelines may be eligible for grants to assist with their down payments.
Interest rates at the beginning of July 2014 in Kern County are currently slightly under 4%. This makes it a great time to consider buying a first home and building equity versus paying rent. Low and moderate income families who are considering buying their first home should contact People Funding for additional information about first time buyers programs in Kern County. There are several programs available including grants that do not have to be repaid, second mortgage programs and downpayment assistance. Call us today and let us help you start on the path to home ownership.