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Down Payment Assistance is Back!

February 29, 2012

Make a Wish and Let Platinum Mortgage Help it Come True.

The WISH Down payment Assistance Program is a down payment assistance initiative for residents of     California, Oregon and Washington that allows grants to be given to residents to assist low-to-mid-income families purchase their first home.

Under the WISH Program, the Bank sets aside a portion of its annual Affordable Housing Program contribution to provide matching grants through Bank members for down payment and closing cost assistance to eligible first-time homebuyers.

The WISH program is available to eligible home loan applicants.  The eligibility requirements are as follows:

  • Household income at the time of enrollment in the WISH Program was 80% or less of the area median income.
  • Homebuyers have successfully completed a homebuyer counseling program.
    • The homebuyer must be a first-time homebuyer, according to the definition of first-time        homebuyer provided by the member.
    • Homebuyer must open escrow on a home purchase transaction within one year of enrollment in the WISH Program.

 

SO now I’m sure you are wondering what the definition of a first time Homebuyer is.

A First Time Homebuyer is a person who has not owned a principal residence within the last three years or a displaced spouse that has had ownership within the last three years but has had to leave the home due to divorce or separation.

How much will you receive from the program?  

The Bank will provide up to $15,000 per household, matching up to $3 for every dollar contributed by the homebuyer toward the purchase of the home.

This can be used with FHA loans and may help you qualify for a lower payment or a bigger home.    This program can be used in any city and any county in California, Organ and Washington.  Another key advantage of this program is there are no CREDIT SCORE REQUIREMENTS.  

If you are interested in turning your WISHES into reality call today to reserve your funds.

Once the funds are gone you will need to WISH until next year, why wait funds are available now.

by Karmel Roe

 

FOR A FAST PRE-APPROVAL:
http://pmcmortgageloans.com/mortgage_application.php

First, Complete out a loan application on our website
-Go to http://www.pmcmortgageloans.com
-Click on Apply Now at the top
-Scroll to the middle of the page and Click on 3. Full Application
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