Down Payment Assistance Makes The Difference In Oakland, CA

For many California first time home buyers, the difference between being approved for a mortgage loan and not qualifying can come down to getting or not getting down payment assistance. Obtain a down payment grant and you’ll be far more likely to qualify for your first home mortgage. Without it, you may find yourself unable to cross the threshold to property ownership.

Mortgage advisor Brenda Wyatt shares a first-hand account of precisely this scenario. Her client couldn’t qualify for a mortgage loan without the help from a down payment assistance program. has the story:

Determined to find a viable solution to her client’s financing, her Realtor referred the borrower to Wyatt, who researched down payment assistance further and discovered a program to fit her client’s circumstances.

Based on this research, the client qualified for a $10,000 down payment assistance grant, which enabled the purchase of her new home. The CalHFA Zero Interest Program (ZIP) is a deferred-payment junior loan of 3 percent of the first mortgage loan amount, available to first time and non-first time buyers. Wyatt stays abreast of program updates so that her clients have access to the full range of financial options.

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