Riverside County (CA) in its effort to provide housing for low and moderate income families has rolled out a series of four programs to help qualified First Time Home buyers.
The Neighborhood Stabilization Homeownership Program (NSHP) is a three year program or until funds are exhausted. For more information on this and the other First Time Home Buyer Programs visit the County website: www.rchomelink.com 
Program Highlights:
- Must be a first-time home buyer- have not owned a home within the last three years
- Qualified buyers will receive 20% of the purchase price of the home towards down payment assistance
- Purchase price must be 1% below EDA provided appraisal (this appraisal is separate from first loan appraisal)
- Program only available in the designated foreclosure target areas of Riverside County. Please check Target Areas Map listed on the EDA website. http://www.rivcoeda.org
- Must be foreclosed home (REO, Bank Owned)
- Home must be vacant for 90 days
- Repair component can be added to the loan with a maximum of $75,000 for down payment assistance, appraisal cost and repairs
- Home must be built after 1978
- Maximum purchase price is $292,686
- Homebuyer education required (Schedule your class early, they fill up quickly)
- Income Limits:
If you or someone you know is looking for more information about First time Home Buyer programs, please leave a comment and/or share.
For more valuable first time home buyer information visit our website: www.homebuyerhelpnetwork.com
IT’S TOO IMPORTANT…DO IT RIGHT!
Greg Cook
First Time Home Buyers Network
phone: 951-265-4532
fax: 951-699-7813
email: greg@homebuyerhelpnetwork.com
website: www.homebuyerhelpnetwork.com
blog: http://helpforfirsttimehomebuyers.wordpress.com/
Tags: Down Payment Assistance, first time home buyer loans, First Time Home Buyers
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