San Diego Mortgage Loan ProtectionBy
In a recent survey over half of potential home buyers said that they are still not ready to jump into the Real Estate market due to the fear of losing their jobs.
Fortunately for San Diego first time home buyers there is a program that will help pay for a San Diego mortgage loan in case of job loss, disability or accidental death. In April the California Association of Realtors® launched a mortgage protection plan. The C.A.R. Housing Affordability Fund Mortgage Protection Program for First Time Home Buyers ( a shorter name would have been nice) will give up to $1500 per month, for 6 months to help make your San Diego mortgage loan payments. A qualified co-borrower on the San Diego mortgage loan can also receive a monthly benefit of up to $750 dollars per month for 6 months.
This program is FREE to first time San Diego home buyers and comes in the form of a mortgage insurance policy that is prepaid for one year. by C.A.R. to help make payments on your San Diego mortgage loan.
To qualify for this mortgage protection plan an applicant must:
- Be a first time home buyer that has not owned a property in the past 3 years.
- The escrow must be both opened and closed between April 2, 2009 and December 31, 2009.
- Purchase a primary residence in California.
- Be represented by a California Realtor®.
- Be a W2 employee (not self employed) but can be a sole proprietor, partner or controlling stockholder in the business in which you are employed.
This San Diego mortgage loan protection plan has NO income or home price caps.
For more information give us a call at (619)285-2921 or contact your Realtor®