A new state and federal partnership announced this week puts the dream of home ownership within reach of many who previously thought they had little-to-no chance of owning a home. Reporter Mike Lipsitz has the details…
This week, the Golden State Finance Authority and U.S. Department of Agriculture’s Rural Development Office announced a new program that will benefit potential homebuyers in the Morongo Basin with low-to-moderate incomes. For qualified homebuyers of qualified homes seeking financing from eligible lenders, the program can provide a gift of up to four percent of the loan amount that can be used for closing costs or principal reduction. In addition, the USDA’s loan guarantee program offers 100 percent financing. Coupled with other programs, qualifying homebuyers may be able to purchase a primary residence with no out-of-pocket money.
To determine your own eligibility and to see how the program might be of benefit to you, visit:
https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program/
