Service Name: FIRST-TIME HOME BUYER PROGRAM

Organization Name: DEVELOPMENT SERVICES -- TOWN OF PARADISE

• Description: Offering a deferred loan program for first-time homebuyers or anyone who has not owned a home in the last three years. The term of the loan is 30 years; however the loan can come due is the property is sold, vacated by the borrower, refinanced or transferred. 3% simple interest is accrued and the amount of the loan is limited to the "gap" financing needed to purchase the home.
• Website: https://bit.ly/2RGUbJd
• Phone(s):
• Eligibility: Homebuyer Eligibility To qualify for the program, you must: - Meet income guidelines - Have not owned a home for the last three years - Qualify for a primary loan - Provide 2% down payment (based on price of home -- funds can be gifted) Housing Unit Eligibility For the home to qualify for the program, it must be: - Located within the Paradise Town limits - A new or previously owned single-family detached house, condominium, townhouse, residential loft structure or manufactured home in a common-interest development or a single-family lot and place on a permanent foundation system. - Owner-occupied, newly constructed, vacant for at least 90 days, or being purchased by a renter currently occupying the unit - In compliance with State and local codes and ordinances
• Areas Served:
  • Butte United States
  • Glenn United States
• Categories:
  • Home Rehabilitation Loans