Released on = May 4, 2007, 1:39 pm

Press Release Author = Camelot Marketing

Industry = Real Estate

Press Release Summary = Downpayment assistance is available on Hesperia CA real
estate to first time home buyers or those that have not owned a home in the past
three years.

Press Release Body = If you are looking for Hesperia CA real estate and are a first
time home buyer you may qualify for downpayment assistance from the City of
Hesperia.

The City of Hesperia First-Time Homebuyer Downpayment Assistance Program (DAP) is
specifically designed to help those with lower incomes become real estate owners.

To qualify you must be a First-Time Homebuyer or not owned a home during the past
three years or those that qualify as a \"displaced homemaker\" or a \"single parent\".

The potential Hesperia CA real estate owner shall have sufficient assets to provide
a minimum 1% down payment, plus additional funds to pay for certain closing costs
(estimated $2,000 - $3,000) and also have sufficient income and credit worthiness to
qualify for primary financing.

The City of Hesperia Downpayment Assistance Program (DAP) will provide a portion of
the eligible purchasers total Down payment. Any home that is purchased through the
Downpayment Assistance Program (DAP) must be affordable.

The City shall provide a maximum Assistance of 35% of the purchase price up to
$115,000 per household to pay for costs associated with the acquisition of Hesperia
CA real estate. Such assistance shall be provided as gap finance, that is an amount
only necessary to complete the purchase transaction.

This subsidy to be provided to eligible First-Time Homebuyers will be made as a 30
year, deferred loan. The principal is paid back in level payments over 30 years at
a zero percent (0%) interest rate. The principle balance due and payable upon sale
or transfer, or when the participant(s) cease(s) to reside in the residence. The
maximum loan amount is $115,000.

The deferred loan is not assumable by another low-income buyer. The deferred loan
does not bear interest in the conventional manner. The City will require annual
certification from the program participants that standard hazard insurance is
maintained in a specified amount and that taxes on the Hesperia CA real estate are
current.

If you are looking for Hesperia CA real estate and would like to know if you qualify
for downpayment assistance from the City of Hesperia please call 866 398 4664 or go
to http://www.goldmedalmortgage.com/Downpayment_Assistance


Web Site = http://www.goldmedalmortgage.com/Downpayment_Assistance

Contact Details = Keith Hunt
Camelot Marketing
California 91701
866 398 4664