Homeowners & Homebuyers - Stewart Brown Jr - Mortgage Loan Originator - Buy

Homebuyers
&
Homeowners

A basic necessity like owning a home should'nt be a privilege. It should be a right for every person in the world. That's the reason I work diligently for my clients to ensure their dreams become a reality.

Taking the plunge from being a renter to a homeowner can be a scary jump without the proper guidance and information. That's where I come in. As your dedicated Loan Consultant, I show you visually in real time whether it makes sense for you. Below is a sample Rent vs. Own analysis I do for all my customers who are unsure if buying is right for them. This analysis is completely free and complimentary.

With access to hundreds of loan programs, you'd think it would be pretty complicated. But don't fear! It doesn't need to be. With the right knowledge and tools I can quickly show you the best options for your personal situation and which scenario strategically will save you the most money. Below is sample Total Cost Analysis (TCA) report that I can tailor for you so you can see exactly which loan program works best.

Attention Homeowners! Is a refinance in your future? When sifting through rates online, at first glance, you might not think so. However, there's no way to know for certain unless you have an experienced Loan Consultant review figures for you. I take things a step further and show you through a live web link if you will save money or not. Below is a sample analysis I can provide you free with no obligation.

Affordable Housing Programs

It can be really difficult to save up the money needed to make a sizable down payment, especially as a first time home buyer. Luckily, there are solutions to help bring homeownership more into reach. Below are several programs available for those in need both on the National level and in California. Reach out to me for further details or to get the application process started.

National AHP

CBC Mortgage Agency - Chenoa Fund Down Payment Assistance for FHA

Eligible products include: Chenoa Repayable 3.5% 30 YR Fixed, 5% 30 YR Fixed, HB 3.5% 30 YR Fixed, & HB 5% 30 YR Fixed
Chenoa Forgivable 3.5% 30 YR Fixed, 5% 30 YR Fixed, HB 3.5% 30 YR Fixed
DPA 2nd: Chenoa 30D & 10A (Rate Advantage Only)

More details available at: Chenoa Fund HFA

Chickasaw Nation Grant

$3,000 Grant - Conventional, FHA, VA are eligible. USDA are not eligible.

More details available at: Chickasaw Nation

Confederated Tribes of Grand Ronde

Fannie Mae, Freddie Mac, HUD 184, FHA, VA are eligible up to $10,000 grant, cannot exceed 20% of purchase price and closing costs. One time benefit. If home sold during year 1, must repay 75%, year 2, must repay 50% and year 3 must repay 25%.

More details available at: Grand Ronde

Federated Indians of Graton Rancheria

FHA, FHA HB, Fannie Mae, Freddie Mac, Super conforming, VA all HFA and Non-HFA eligible. Up to 10% of median home price in county where property is located, additional award up to 2% for closing costs & 5 Year 0% interest forgivable loan.

More details available at: Graton Rancheria

Freddie Mac Home Benefit Employee Assistance

FHA 203(b), Fannie Mae, Freddie Mac, VA 30 year only eligible. Up to $12,000 for both full and part time employees who have been employed for no less than a full 12 months. 3 year deferred 0% interest forgivable employee benefit after 3 years after receiving. Benefit may be used to supplement down payment, or pay for closing costs, loan origination fee and/or discount point(s) and can be used for pre-paids. Payment will be grossed up to account for any applicable income taxes at customary and usual rates used by Freddie Mac for such purposes. Is limited to a single payment on behalf of an eligible employee during his or her lifetime regardless of the eligible employee's reemployment history and regardless of whether another then-eligible employee applied for and/or received the benefit. Reimbursement: less than 1=100%, 1 year=66.66%, 2 years=33.33%, 3 year=0%.

More details available at: Freddie Mac

Homeownership Preservation Foundation - BorrowSmart

Freddie Mac HomePossible & HomeOne Program eligible 1st lien types. DPA in form of grant: MIP - $1,000 > 80% < 100% AMI and property must be in high needs area within designated rural tracts or a manufactured home titled as real property. LIP - $1,250 AMI > 50% and < 80% (can only be paired with HomePossible) and VLIP - $2,500 AMI < 50% (can only be paired with HomePossible). *Not available in US Territories (i.e. Puerto Rico, Guam, Samoa, US Virgin Islands, etc.)

More details available at: Freddie Mac

NHF - Diamond

FHA and VA 30 year 1st. DPA NHF Diamond 2nd. Up to 6.5% with 2.0% deferred second mortgage & remaining DPA as a gift. Gift portion of the DPA is not repayable. Deferred 30 year term with 0% interest rate, due and payable upon sale, refinance, or payoff of the first mortgage.

More details available at: NHF Website

Stillaguamish Tribe of Indians

FHA, Fannie Mae, Freddie Mac, VA eligible. $20,000 grant that can be used towards closing costs, down payment, buying down interest rate and/or principal. One time benefit (gift).

More details available at: Stillaguamish Tribe of Indians

Tohono O'odham Ki: Ki Association (TOKA) Down Payment Assistance

Fannie Mae, Freddie Mac, HUD 184, FHA, VA eligible. Dollar for dollar match up to $10,000 - 0% interest on 2nd or 3rd lien - 5 years deferred on first come first serve basis - forgiven in equal increments every year over the course of a 5 year period that the homebuyer occupies the home as primary residence.

More details available at: Tohono O’odham

United Auburn Indian Community - Down Payment Assistance

Eligible mortgage types: FHA 203(b), Fannie Mae, Freddie Mac, VA all 30 yr only. $55,000 grant no restriction on term and one time benefit (gift).

More details available at: UAIC

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California AHP

California Housing Finance Agency (CalHFA): ADU Grant, Conventional, FHA, VA, CalHFA-Zip, CalPlus Conventional, CalPlus FHA, & MyHome Assistance

- ADU Grant - up to $40,000 to reimburse homeowners for pre-development/soft costs (associated with the construction of ADU) and including non-recurring closing cost: including but not limited to architectural designs, permits, soil tests, impact fees, property survey and energy reports. First come first serve. Can only be used with renovation loan - Fannie Mae HomeStyle Renovation or FHA 203k.
- Bond Agency 1st liens - CalHFA & CalPlus Conventional Fixed Rate & Fannie Mae only. CalHFA & CalPlus FHA 30 yr fixed. CalHFA VA. CalHFA 2-1 Temporary Buydown for Conforming, FHA and VA Bond.
- 2nd lien - MyHomeAssistance - 30 year fully amortized - agency to determine interest rate. Can be paired with CalHFA or CalPlus Conv, FHA, VA. Cannot be paired with School Teacher or Employee Assistance.
- 3rd lien - CalZip - 0% 30 year deferred, % amount is determined by agency as % of 1st mortgage amount / lien amount can be based on current market conditions and can only be paired with CalPlus Conv or FHA.

More details available at: CalHFA

City of Claremont Inclusionary Housing

Fannie Mae and Freddie Mac. DPA determined by agency on a first come first serve basis. Silent second, forgiven after 45 years of owner occupancy. Equity share is based off the Fair Market Value of an Inclusionary Unit and the Affordable Sales Price for that Inclusionary Unit at the time of acquisition by a Homebuyer. Equity share decreases over time and after year 10 of owner occupying the home and is eventually forgiven after year 30. Units sell at full market rate with a subsidy to the City of Claremont.

More details available at: City of Claremont

City of Commerce - Rosewood Village Development - Equity Share

FHA, Fannie Mae, Freddie Mac, Super Conforming, & VA eligible. Loan interest rate is 0-1% years 0-10 and 0% years 11-45 when loan is forgiven. % of equity appreciation is 15% yr 0-10, 10% yr 11-15, 5% yr 16-30, 2% yr 31-45 and 0% after 45 years. *interest rate is based on household income at the time loan is made.

More details available at: City of Commerce

City of Lompoc Homeownership Assistance Program (HAP)

FHA, Fannie Mae, Freddi Mac 30 year fixed only. 2nd lien maximum 18% of purchase price not to exceed $65,000 at 3% rate, deferred 30 years, due upon sale, transfer, rental, refinancing or 30 year term whichever comes first. For down payment and closing costs. Grant up to $7,500 awarded at discretion of agency for closing costs.

More details available at: City of Lompoc

City of Los Angeles: Low Income Purchase Assistance (LIPA), Moderate Income Purchase Assistance (MIPA) and Mortgage Credit Certificate

- LIPA up to $90,000 for AMI at 80% or less - 0% interest rate - 30 yr deferred payment or repayment is due on sale, title transfer or first mortgage repayment.
- MIPA up to $60,000 for AMI 81% - 120% and up to $35,000 for AMI over 120% - 0% interest rate - 30 yr deferred payment or repayment is due on sale, title transfer or first mortgage repayment.
- MCC 20% or $2,000 tax credit, whichever is less.

More details available at: City of Los Angeles

City of Milpitas BMR

Fannie Mae and Freddie Mac 30 Year. Finch Hollow - based on need, available on first come first serve basis. City will conduct a lottery, select 4 qualified applicants for an opportunity to purchase one of the eligible homes. 55 year affordability period.

More details available at: City of Milpitas

City of Modesto Homebuyer Assistance Program (HAP)

FHA, VA, USDA, Fannie & Freddie Mac (Fixed 30 Year Owner Occupied Primary). Accrued rate may not be more than 75% of 1st lien rate. Example: if current HAP accrued rate is 3.00%, 1st lien must have a rate not less than 4.00%.

More details available at: City of Modesto

City of Novato BMR

Fannie Mae and Freddie Mac 30 year only. Varies based on need. All deed restrictions remain on the property in perpetuity.

More details available at: Rise Housing Solutions

City of Palo Alto BMR

Fannie Mae and Freddie Mac 30 year only. Available on first come first serve basis. Preference to those who live or work in Palo Alto. BMR units are located in market-rate condominium projects all across the City of Palo Alto.

More details available at: City of Palo Alto

City of Santa Ana - My First Home Program

Fannie Mae and Freddie Mac only. Up to $120,000 based on need. 0% interest rate. Deferred for 45 years. Note: Santa Ana Student Incentive: Prospective homebuyer that graduated high school located in Santa Ana and has a 4 year college degree is eligible for a loan forgiveness up to $40,000 ($10,000 will be forgiven every five years up to a twenty year period.)

More details available at: City of Santa Ana

City of Sunnyvale Below Market Rate Program & First Time Homebuyer

- BMR - Fannie Mae and Freddie Mac. Varies based on need. 30 year deferred with restrictions. May also be eligible for up to $50,000 in FTHB down payment assistance. Repayment: due on sale of home or when it is no longer owner occupied.
- FTHB - Fannie Mae and Freddie Mac. Up to $50,000 based on need. 30 year deferred when paired with non-BMR, 0% interest with shared appreciation or when paired with BMR, 3% interest. Repayment: due on sale of home or when it is no longer owner occupied.

More details available at: City of Sunnyvale

City of Turlock First Time Home Buyers

Fannie Mae, Freddie Mac, FHA & VA (all 30 year only deferred loan). Up to $50,000 or 40% (whichever is less) of the sale price of a home. 3% simple interest begins to accrue 1st year, no payments.

More details available at: City of Turlock

City of Walnut Creek First Time Homebuyers Assistance

Fannie Mae only eligible. Up to 17% of home sale price or $65,000 (per household), whichever is less. 45 year silent second (balloon payment). City funds can be used for any of the following: 1/2 of closing costs, up to 2% of a required 5% down payment and/or additional down payment.

Homebuyers &Homeowners

Homebuyers &Homeowners

Homebuyers &Homeowners

A basic necessity like owning a home should'nt be a privilege. It should be a right for every person in the world. That's the reason I work diligently for my clients to ensure their dreams become a reality.

Affordable Housing Programs

National AHP

$3,000 Grant - Conventional, FHA, VA are eligible. USDA are not eligible.

$3,000 Grant - Conventional, FHA, VA are eligible. USDA are not eligible.

California AHP

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Homebuyers
&
Homeowners

Homebuyers
&
Homeowners

Homebuyers
&
Homeowners