HOA Assistance Program
July 2nd, 2009 categories: Buyer's Advice
The Pacific West Association of REALTORS® Charity Foundation is helping first-time home buyers with the HOA Assistance Program to provide HOA dues for up to one year to first time home buyers!
HOA's
“Oftentimes, HOA dues can present a barrier to first time buyers. We are proud to have raised enough money to include an HOA dues assistance program this year, in addition to the down payment assistance grants that we will award,” said Michael DeLeon, President of the PWR Charity Foundation Board.
Applications for first time buyer programs.
>> Click Here for More Info on HOA Assistance Program
>> Click Here for More Info on Down Payment Assistance Program
Criteria:
- Income level (2 buyers) $111,600 for Orange County & and $90,960 for Los Angeles County.
- Purchase price is $350,000 for Orange and Los Angeles Counties.
- Buyers must contribute 1% of the sales price from their own pocket.
- Has not owned a home within the past 3 years.
- Credit score of 620 +.
- Approved from a direct lender
- Minimum five-year fixed-rate, full documentation (no stated income) loan.
- Buyer must be represented by a PWR REALTOR® member who has contributed to the PWR Charity Foundation in 2009.
- Must be located within PWR’s jurisdiction.
- Short-sales excluded
- Property and Home Owners Association must meet agency standards and pass review of PWR Underwriters (occupancy ratios apply, pending litigation, leased land,
- insufficient reserves not allowed) Condos & True Pud’s.
Jurisdictions Include:
Central/Northern Orange County and the Southeast Los Angeles County.
Anaheim/Anaheim Hills, Brea, Buena Park, Cypress, Fullerton, Garden Grove, La Habra/La Habra Heights, La Mirada, La Palma, Lakewood, Long Beach, Los Alamitos, Norwalk, Orange, Pico Rivera, Placentia, Rossmoor, Santa Ana, Seal Beach, Signal Hill, Stanton, Tustin, Villa Park, Westminster, Whittier, and Yorba Linda.
