Orange County First-Time Home Buyer Programs
Orange County CA is an ideal place to live and work offering very moderate temperatures, easy access to beaches and boating and a range of homes ranging from very modest pricing to very expensive. Whether you are a new graduate of one of the more than 15 advanced education facilities in the area or you’re a young family looking for a great place to raise their children, Orange County could be your new home.
What about homes in the area?
The average value of homes in the Orange County area is well above $500K. However, families who know where to find down payment assistance programs can still take advantage of some great deals on real estate including foreclosure properties that often sell for well under $200K.
I’m a first-time buyer where do I find help?
First, you will have to find a home to purchase. Fortunately, you may be able to find success with the FNMA HomePath program which not only offers a comprehensive first time home buyer program in Orange County but also has a list of foreclosure properties for sale.
Orange County specific programs
First time buyers who meet income criteria can qualify for a deferred payment loan of up to $40,000 to help with their down payment through the Mortgage Assistance Program (MAP) offered in Orange County. This program has a “cap” on the price of the home which is in the area of $450K offering many opportunities for first-time buyers.
Other California programs
There are a variety of programs available in California to help those who are considering purchasing a home in Orange County including programs offered through CalHFA such as a special program for those who are teachers and down payment assistance programs.
Let’s face it, we all want the opportunity to become part of the American dream and buy a home. There are a number of great programs that offer both loans and grants to assist with closing costs and down payments. If you are considering buying a home in Orange County, contact People Funding and let us review the available programs with you and determine which ones best meet your needs.